· PDF fileIntroduction to BAP Portal ... Figure 4: IRDA BAP Portal Login Screen ..... 9 Figure 5: Change Password Screen

IRDAI

BROKER REGISTRATION

AND LICENSING

User Manual

Broker User Manual Version History

Version 9.0/23-Jan-13 i

Version history

Version No. Date of Release Prepared by (L&T side)

Approved by (L&T side)

Approved by (IRDA - User department)

1.0 17-Dec-2012 Komal Khatri Namrata Singhal

2.0 24-Dec-2012 Komal Khatri Tinaz Bhathena

3.0 28-Dec-2012 Komal Khatri Namrata Singhal

4.0 31-Dec-2012 Komal Khatri U Jayanti

5.0 2-Jan-2013 Komal Khatri Namrata Singhal

6.0 3-Jan-2013 Komal Khatri Gargi Talegaonkar

7.0 9-Jan-2013 Komal Khatri Gargi Talegaonkar

8.0 17-Jan-2013 Komal Khatri Namrata Singhal

9.0 23-Jan-2013 Komal Khatri Tinaz Bhathena, Namrata Singhal

Broker User Manual Table of Contents

Version 9.0/23-Dec-13 ii

Table of Contents

Prerequisites ................................................................................................................... 1 Introduction to BAP Portal ............................................................................................... 2

Role of a Broker .............................................................................................................. 3 Overview ......................................................................................................................... 4 Broker Registration.......................................................................................................... 5

To register on the portal: .............................................................................................. 5 Login Process ................................................................................................................. 9

To access the portal: ................................................................................................... 9 Points to Remember...................................................................................................... 11

Retrieve Credentials ...................................................................................................... 12 Retrieve Master ID: .................................................................................................... 12

User Profile for Master ID .............................................................................................. 17 User Profile for Sub Login ID ......................................................................................... 20

Register Digital Signature is displayed in User Profile of Directors only. ................... 22 Description of the menu tabs for Master IDs ................................................................. 23

Description of the menu tabs for Sub ID ........................................................................ 24 Digital Signature ............................................................................................................ 25

Option 1 - Uploading the digital signature through the BAP portal: ............................ 25

Option 2 - Importing the digital signature on your browser: ....................................... 28 Creating Sub IDs ........................................................................................................... 30

Updating a Sub ID ......................................................................................................... 32

Deleting a Sub ID .......................................................................................................... 34

Broker Licensing ........................................................................................................... 36 New License .................................................................................................................. 37 Applicant Details ........................................................................................................... 40

Organization Structure .................................................................................................. 42 Business Information ..................................................................................................... 47

Financial Information ..................................................................................................... 49 Other Information .......................................................................................................... 53 Upload Documents ........................................................................................................ 55

Declaration .................................................................................................................... 57 Undertaking ................................................................................................................... 58 Print View ...................................................................................................................... 61 Renewal License ........................................................................................................... 68

Prerequisite for License Renewal .............................................................................. 68 Conditions for Late Renewal ...................................................................................... 69 To apply for license renewal: ..................................................................................... 69

Applicant Details ........................................................................................................... 72 Organization Structure .................................................................................................. 74

Business Information ..................................................................................................... 78 Financial Information ..................................................................................................... 80 Other Information .......................................................................................................... 84 Upload Documents ........................................................................................................ 85


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To view Upload Documents screen: .......................................................................... 85 To upload documents: ............................................................................................... 86

Declaration .................................................................................................................... 87

Undertaking ................................................................................................................... 88 Print view ....................................................................................................................... 91

To view Print view screen: ......................................................................................... 91 To submit Renew License Application: ...................................................................... 94

Duplicate License .......................................................................................................... 98

Changes During Licensing Period ............................................................................... 103 To view Changes in licensing screen: ...................................................................... 104

Information on opening/closing branches, change of registration/branch office .......... 106 Transfer of shares, increase in paid up capital/change in holding company conversion .................................................................................................................................... 109 Induction of new directors/cessation of existing directors, approval for appointment of directors in international bodies ................................................................................... 113 Change in Principal Officer/key management personnel............................................. 116 Information on particulars of persons responsible for soliciting and procuring broking business ...................................................................................................................... 119 Standing arrangement with Insurance Company and hospitals .................................. 122

Change in Name/Organization Structure ..................................................................... 124 Information/Approval for investment funds .................................................................. 126 Transfer of shares, increase in paid up capital/change in holding company/conversion of company ...................................................................................................................... 127 Removal of lien on FD after making fresh FD ............................................................. 131

Voluntary surrender of License ................................................................................... 134 Approval for opening representative offices abroad .................................................... 136

Other Representations by brokers on matter of License ............................................. 137 Miscellaneous ............................................................................................................. 138

Changes in licensing Category .................................................................................... 140 To apply for a Change in License Category: ............................................................ 140

Pay Annual Fees ......................................................................................................... 143 Pay Annual Fees: .................................................................................................... 143

View License Details ................................................................................................... 147 View Application Status ............................................................................................... 148 Pending for Clarification .............................................................................................. 150 Returns ........................................................................................................................ 153

Quarterly Returns ........................................................................................................ 156 Business Data for Brokers ........................................................................................... 157 Business Data for Insurance Brokers (Life) ................................................................. 162

Business Data for Insurance Brokers (Non Life) ......................................................... 164 Claims Data for Insurance Brokers ............................................................................. 166 Annual Returns ........................................................................................................... 170 Reinsurance Balances Outstanding ............................................................................ 171 Cash Flow Statement for Insurance Brokers ............................................................... 173 Security screening proceedings for reinsurance broking ............................................. 177


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Financial Statement of each insurance broker-Profit and Loss Statement .................. 179 Balance Sheet of Insurance brokers ........................................................................... 184 Audit Arrangement for Insurance Broker ..................................................................... 188

Insurance Bank Accounts of Insurance Brokers .......................................................... 190 Details of Group Companies of a Insurance Broker .................................................... 192 Spread of Business during the Year Ending ................................................................ 194 Professional Indemnity Insurance In Force As At ........................................................ 196 Half Yearly ................................................................................................................... 198

Financial Data for Insurance Brokers .......................................................................... 199 Assistance on Filling Returns ...................................................................................... 202 Pay Penalty ................................................................................................................. 245 Error Handling ............................................................................................................. 248

Frequently Asked Questions ....................................................................................... 252 Glossary ...................................................................................................................... 254

Index ........................................................................................................................... 258

Broker User Manual List of Figures

Version 9.0 v

List of Figures Figure 1: User Registration Screen ................................................................................. 6 Figure 2: Registration Confirmation Screen .................................................................... 8

Figure 3: Duplicate User Error Message ......................................................................... 8 Figure 4: IRDA BAP Portal Login Screen ........................................................................ 9 Figure 5: Change Password Screen.............................................................................. 10 Figure 6: Log Off Confirmation Dialog Box .................................................................... 10 Figure 7: Retrieve User ID/Password Selection ............................................................ 12

Figure 8: Retrieve Master/Organization ID Options ....................................................... 12 Figure 9: User ID Retrieval Confirmation Message ....................................................... 13 Figure 10: Retrieve User ID/Password Selection .......................................................... 13 Figure 11: Retrieval Sub Login ID ................................................................................. 14

Figure 12: User ID Retrieval Confirmation Message ..................................................... 14 Figure 13: Retrieve Password Options .......................................................................... 14

Figure 14: Additional Retrieve Password Options ......................................................... 15 Figure 15: Retrieve Password Process ......................................................................... 15

Figure 16: Retrieve Password Process ......................................................................... 16 Figure 17: Incorrect retrieval information error message ............................................... 16 Figure 18: User Profile Screen for Master ID ................................................................ 17

Figure 19: User Profile - Change Password screen ...................................................... 18 Figure 20: Password Change Confirmation Message ................................................... 18

Figure 21: Update User Profile Screen .......................................................................... 19 Figure 22: User Profile Update Confirmation Message ................................................. 19 Figure 23: Updating Security Question and Answer ...................................................... 20

Figure 24: User Profile Screen for Sub Login ID ........................................................... 20

Figure 25: User Profile - Change Password screen ...................................................... 21 Figure 26: Password Change confirmation message .................................................... 21 Figure 27: Update User Profile screen .......................................................................... 22

Figure 28: User Profile Update Confirmation Message ................................................. 22 Figure 29: User Profile screen ....................................................................................... 26

Figure 30: Web Signer dialog box ................................................................................. 26 Figure 31: Password required dialog box ...................................................................... 27

Figure 32: Web Signer dialog box displaying the uploaded signature ........................... 27 Figure 33: Password required dialog box ...................................................................... 28 Figure 34: Web Signer dialog box displaying the uploaded signature ........................... 29 Figure 35: Create Sub ID Screen .................................................................................. 30 Figure 36: Sub ID Creation Confirmation Screen .......................................................... 31

Figure 37: Update/Delete Sub ID Screen ...................................................................... 32 Figure 38: Update Sub ID Screen ................................................................................. 33

Figure 39: Successful Updation Acknowledgement Dialog Box .................................... 33 Figure 40: Update/Delete Sub ID Screen ...................................................................... 34 Figure 41: Delete Sub ID Screen .................................................................................. 34 Figure 42: Message Pre-Deletion .................................................................................. 35 Figure 43: User Confirmation Screen ............................................................................ 37 Figure 44: Confirmation Message box ........................................................................... 37 Figure 45: New License Application Screen .................................................................. 38


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Figure 46: Applicant Details Screen .............................................................................. 41 Figure 47: Organization Structure Screen ..................................................................... 43 Figure 48: Business Information Screen ....................................................................... 47

Figure 49: Financial Information Screen ........................................................................ 50 Figure 50: Other Information Screen ............................................................................. 53 Figure 51: Upload Documents Screen .......................................................................... 56 Figure 52: Declaration Screen ....................................................................................... 57 Figure 53: Undertaking Screen ..................................................................................... 58

Figure 54: Print View Screen ......................................................................................... 63 Figure 55: User Confirmation Message for Payment .................................................... 64 Figure 56: Make Payment screen ................................................................................. 64 Figure 57: Demand Draft Details screen ....................................................................... 65

Figure 58: NEFT/RTGS Details screen ......................................................................... 65 Figure 59: Form Submitted Successfully Notification .................................................... 66

Figure 60: Form Submitted Successfully Notification .................................................... 66 Figure 61: Renewal warning message when attempting to renew 3 months before ..... 68 Figure 62: Renewal warning message when attempting to renew 3 Years before ........ 69

Figure 63: Renew License Screen ................................................................................ 70 Figure 64: Applicant Details Screen .............................................................................. 73

Figure 65: Organization Structure Screen ..................................................................... 75 Figure 66: Business Information Screen ....................................................................... 78 Figure 67: Financial Information Screen ........................................................................ 81

Figure 68: Other Information Screen ............................................................................. 84 Figure 69: Upload Documents Screen .......................................................................... 86

Figure 70: Declaration Screen ....................................................................................... 87 Figure 71: Undertaking Screen ..................................................................................... 88

Figure 72: Print View Screen ......................................................................................... 94 Figure 73: User Confirmation message for Renewal License ....................................... 94

Figure 74: Make Payment Screen ................................................................................. 94 Figure 75: Demand Draft Details screen ....................................................................... 95 Figure 76: NEFT/RTGS Details screen ......................................................................... 95 Figure 77: Confirmation Message for Make Payment ................................................... 96

Figure 78: Form Submitted Successfully Notification .................................................... 96 Figure 79: Duplicate License Screen ............................................................................ 98 Figure 80: Make Payment screen ................................................................................. 99 Figure 81: Demand Draft Details screen ..................................................................... 100

Figure 82: NEFT/RTGS Details screen ....................................................................... 100 Figure 83: Confirmation Message for Make Payment ................................................. 101 Figure 84: Form Submitted Successfully Notification .................................................. 101

Figure 85: User Confirmation Message ....................................................................... 104 Figure 86: Changes during Licensing Period Screen .................................................. 104 Figure 87: Particulars of registered/branch office Screen ............................................ 106 Figure 88: Transfer of shares, increase in paid up capital/ change in holding company/ conversation Screen.................................................................................................... 109 Figure 89: Board of Director Details Screen ................................................................ 113


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Figure 90: Management Details Screen ...................................................................... 116 Figure 91: Particulars of persons responsible for soliciting and procuring of Insurance or reinsurance business Screen ...................................................................................... 119

Figure 92: Standing arrangements with other insurance brokers or service providers Screen ......................................................................................................................... 122 Figure 93: Change in Name/organization structure Screen ......................................... 124 Figure 94: Information/Approval for investment of funds Screen ................................. 126 Figure 95: Capital Structure and Shareholder details Screen ..................................... 128

Figure 96: Fixed Deposit Details Screen ..................................................................... 131 Figure 97: Voluntary surrender of license Screen ....................................................... 134 Figure 98: Approval for opening representative offices abroad Screen ....................... 136 Figure 99: Other representations by brokers on matter of License Screen ................. 137

Figure 100: Miscellaneous Screen .............................................................................. 138 Figure 101: Changes in license Category Screen ....................................................... 140

Figure 102: Deletion/ Degradation of Category Screen ............................................... 141 Figure 103: Pay Annual Fees Screen.......................................................................... 143 Figure 104: Make Payment Screen ............................................................................. 144

Figure 105: Demand Draft Details screen ................................................................... 144 Figure 106: NEFT/RTGS Details screen ..................................................................... 145

Figure 107: View license Details Screen ..................................................................... 147 Figure 108: View Application Status Screen ............................................................... 148 Figure 109: URN for Pending for Clarification Screen ................................................. 150

Figure 110: Pending for Clarification Screen ............................................................... 151 Figure 111: User Confirmation Message ..................................................................... 151

Figure 112: Returns Screen ........................................................................................ 153 Figure 113: Submit Forms Returns Screen ................................................................. 155

Figure 114: User Confirmation Message ..................................................................... 155 Figure 115: Quarterly Returns Screen......................................................................... 156

Figure 116: Business Data for Brokers Screen ........................................................... 158 Figure 117: User Confirmation Message ..................................................................... 161 Figure 118: Business Data for Insurance Brokers (Life) Screen ................................. 162 Figure 119: User Confirmation Message ..................................................................... 163

Figure 120: Business Data for Non Life Screen .......................................................... 164 Figure 121: User Confirmation Message ..................................................................... 165 Figure 122: Claims Data for Insurance Broker Screen ................................................ 167 Figure 123: User Confirmation Message ..................................................................... 169

Figure 124: Annual Returns Screen ............................................................................ 170 Figure 125: Reinsurance Balance Outstanding Screen............................................... 171 Figure 126: User Confirmation Message ..................................................................... 172

Figure 127: Cash Flow Statement Screen ................................................................... 174 Figure 128: User Confirmation Message ..................................................................... 176 Figure 129: Security screening proceedings Screen ................................................... 177 Figure 130: User Confirmation Message ..................................................................... 178 Figure 131: Profit and Loss Statement Screen ............................................................ 180 Figure 132: User Confirmation Message ..................................................................... 182


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Figure 133: Balance Sheet Screen ............................................................................. 185 Figure 134: User Confirmation Message ..................................................................... 187 Figure 135: Audit Arrangements Screen ..................................................................... 188

Figure 136: User Confirmation Message ..................................................................... 189 Figure 137: Insurance Bank Accounts Screen ............................................................ 190 Figure 138: User Confirmation Message ..................................................................... 191 Figure 139: Details of Group companies for an Insurance Broker Screen .................. 192 Figure 140: User Confirmation Message ..................................................................... 193

Figure 141: Spread of Business during the Year Ending Return Screen..................... 194 Figure 142: User Confirmation Message ..................................................................... 195 Figure 143: Professional Indemnity Insurance In Force As At Returns Screen ........... 196 Figure 144: User Confirmation Message ..................................................................... 197

Figure 145: Half Yearly Returns Screen ...................................................................... 198 Figure 146: Half Yearly Returns Screen ...................................................................... 200

Figure 147: User Confirmation Message ..................................................................... 201 Figure 148: Pay Penalty Screen .................................................................................. 245 Figure 149: Total Amount Displayed in the Pay Penalty Screen ................................. 246

Figure 150: Make Payment Screen ............................................................................. 246 Figure 151: Demand Draft Details Screen ................................................................... 246

Figure 152: NEFT/RTGS Details screen ..................................................................... 247

Broker User Manual Prerequisites

Version 9.0 1

Prerequisites

In order to access the BAP Portal and to perform activities, the below mentioned hardware and software infrastructure is required

Field Description

Hardware - Personal Computer / Laptop

Processor Intel processors Pentium 4 / i3 / i5 / i7 @ 1GHz or above

RAM 1 GB RAM or above (minimum 1GB recommended)

Hard Disk 80 GB or above HDD

Ethernet Card 10 / 100 Mbps

Printer Laser Jet

Software

Operating System

Windows XP (with Service Pack2), Windows Vista, Windows 7, Mac OS v 10.5

Office Utility MS - Office 2003 or above

Browsers Internet Explorer 6.0 / 7.0 / 8.0, Apple Safari 5.0 (recommended Internet Explorer 8.0 )

Java Runtime JRE 1.7 Update 72

Adobe Acrobat Reader

9.0 version

Broker User Manual Introduction to BAP Portal

Version 9.0 2

Introduction to BAP Portal

IRDA has taken an initiative of automation for facilitation of various activities that need to be undertaken by Insurance companies, surveyors, brokers and Third Party Administrators (TPA) for regulatory compliance. This program is called the ‘Business Analytics Project’ or BAP as referred to henceforth. In the current technology driven environment, this portal delivers ease of use and uniformity in routine activities like online filing of returns, submitting applications for enrollment, new license, renewals and other changes to existing licenses. This application also supports on-line clarification of queries, and provides notifications, reminders and alerts for adherence to timelines. This initiative will ensure good communication between insurance players and IRDA. Standardized and timely collection of industry data will help IRDA in efficient supervision of insurance operations, monitoring and tracking for the development of the insurance industry in India.

Broker User Manual Role of a Broker

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Role of a Broker

Brokers are intermediaries between the prospective customers and insurers. In order to ensure that insurance and reinsurance business is transacted along proper lines, there are set out rules of conduct and licensing procedures to be followed. All brokers operating in the insurance market need to be duly licensed by IRDA and also need to submit periodic returns reporting details of the operations. This project aims at automating the licensing process and the submission of returns by the Brokers, the details for which follow.

Broker User Manual Overview

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Overview

The BAP Portal allows smooth registration of Corporate Broker. The Corporate Broker can then perform following activities:

Retrieve User id and Passwords.

Creation of Sub Login ID’s for - Employee - Authorized Signatory

Updating and deleting the Sub IDs. BAP Portal allows the end user to perform the following activities:

Apply for New License.

Apply for Renewal License.

Apply for Duplicate License.

Apply for Changes during licensing period.

Apply for Change in license category.

View License Details

View license application status.

View license applications pending for clarification.

Submission of Returns.

Pay Penalty.

Any designated personnel can fill the form; however the submission of the forms is done by Authorized Signatory only.

Broker User Manual Broker Registration

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Broker Registration

For getting licensed by IRDAI & to work as a Broker, user has to first fill an online ‘New User’ registration form available on IRDA BAP Portal.

To register on the portal:

1. Open a browser and enter the address: www.irdabap.gov.in. The IRDA BAP portal home page is displayed.

2. Click Register. The User Registration screen is displayed. 3. From User Type drop down list, select Corporate. 4. From User Role drop down list, select Broker. The Corporate Registration

screen is displayed. All mandatory fields on the form are marked with an asterisk (*).

http://irda.gov.in/Defaulthome.aspx?page=H1


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Figure 1: User Registration Screen

The fields in the Corporate Broker Registration Screen are explained in the following table:

Field Description

New User Registration

Organization Name

Enter the name of organization.

Corporate PAN No.

Enter corporate PAN card number. (Format: AAAAA1111A)

Applicant Type Select either Company or Partnership Firm by selecting radio-button.

Registered Office Address

Address1 Enter the first line of the address.


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Field Description

Address2 Enter the second line of the address.

Address3 Enter the third line of the address.

Country This displays the country name. By default, India is displayed.

State Select state from the drop-down list.

District Select district from the drop-down list. List of districts will come on the basis of state selected.

City Select city from the drop-down list. List of cities will come on the basis of district selected.

Region Select region from the drop-down list.

Pin Code Enter the pin code number. It has to be 6 digit number only.

Contact Details

E mail ID Enter the Email ID.

Alternate E mail ID

Enter the alternate e mail ID.

Contact Person Enter the Contact Person from your organization

Contact Number Enter the contact number

Registration Details

Registration Number

Enter the organization’s registration number. It has to be 21 digits number only.

Date of Registration

Enter the organizations date of registration.

Security Question

Security Question

Select security question from the drop-down list.

Security Answer Enter answer for the selected security question. Please note down security question and answer as these will help to retrieve the user ID/password in case you forget them.

Verification Code

Enter Verification Code

Enter case-sensitive verification code as displayed in captcha.


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5. Enter the relevant information and click Submit. An Acknowledgement dialog

box is displayed along with your User ID, notifying that the registration is successful.

Figure 2: Registration Confirmation Screen

6. Click OK. The user ID and password are sent to the registered email ID.

7. After registration is done in the portal, end user can create sub ids for 2 authorized signatories and 1 employee of the organization.

If end user tries to create multiple accounts by entering same registration number, a "User already exists" error message is displayed.

Figure 3: Duplicate User Error Message

Broker User Manual Login Process

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Login Process

To access the portal:

To access the BAP portal, user will have to login by entering valid credentials.

1. Open a browser and enter the address: www.irdabap.gov.in. The IRDA BAP

portal home page is displayed. 2. Click Login. The IRDA BAP portal login screen is displayed.

Figure 4: IRDA BAP Portal Login Screen

3. In User field, enter the user ID. 4. In Password field, enter password. 5. Click Log On. User Profile will be displayed, along with registered name on the

screen. 6. The Change Password screen is displayed if user is logged in for the first time

or if current password is in use for 90 days or more. Otherwise, the User Profile page is displayed.


Broker User Manual Login Process

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Figure 5: Change Password Screen

Follow the below steps to Change Password: 1. In Old Password field, enter your current password. 2. In New Password field, enter your new password. 3. In Confirm Password field, re-enter your new password. 4. Click Change. Click Cancel to go back to the login screen.

To Log Off from the portal:

1. Click Log Off. A log off confirmation dialog box is displayed.

Figure 6: Log off Confirmation Dialog Box

2. Click "Yes" to log out. Else, Click "No" to go back to the previous screen.

Broker User Manual Points to Remember

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Points to Remember

For User ID:

If user is not logged in to portal for 3 months or more, the user ID will be de-activated.

If user is registered on portal but has not filled up or submitted any application form for 3 months, the ID will be de-activated.

If user is registered on the portal and filled up application form but has not made fee payment, the User ID will be de-activated at the end of 3 month period.

If user does not respond within 3 months (in spite of repeated reminders) to clarifications/documents sought by IRDA on the new license application submitted earlier, the user ID will be locked at end of 3 month period.

An email notification will be sent to user’s registered email ID 3 days before the 3-month period ends, after which user ID will be de-activated.

For Password:

The BAP Portal account will be locked after user makes 3 unsuccessful attempts to log into the portal.

In case of password change, the new password must be different from the last five passwords.

Broker User Manual Retrieve Credentials

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Retrieve Credentials

If user forgets the BAP login credentials, user can retrieve them using Retrieve User ID/ Password option.

Retrieve Master ID:

1. On the IRDA BAP portal login screen, click Forgot Password/User ID. The

Retrieve User ID/Password screen is displayed.

Figure 7: Retrieve User ID/Password Selection

2. In Retrieve Type, select User ID. Additional fields are displayed. 3. From User Type drop-down list, select Corporate. 4. From Corporate Type, select Broker. 5. From Retrieve, select the type of ID that user wants to retrieve.

6. In Retrieve, click Master/Organization ID. Additional fields are displayed.

7. In the Registration Number field, enter the corporate registration number.

Figure 8: Retrieve Master/Organization ID Options


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8. Click Retrieve User ID. An Acknowledgement dialog box is displayed notifying that the user ID has been sent to registered email ID.

Figure 9: User ID Retrieval Confirmation Message

9. Click OK. The User ID is sent to your registered email ID.

Retrieve Sub Login ID

1. On the IRDA BAP portal login screen, click Forgot User Id / Password. The Retrieve User ID/Password screen is displayed.

Figure 10: Retrieve User ID/Password Selection

2. In Retrieve Type, click User ID. Additional fields are displayed.

3. From User Type drop-down list, select Corporate.

4. From Corporate Type drop-down list, select Broker.

5. In Retrieve, click Sub Login ID. Additional fields are displayed.

6. In the Master ID field, enter the Master ID.

7. In the Registered Sub Login ID, enter registered E-mail ID.


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Figure 11: Retrieval Sub Login ID

8. Click Retrieve User ID. Acknowledgement dialog box is displayed notifying that user ID has been sent to registered email ID.

Figure 12: User ID Retrieval Confirmation Message

9. Click OK. The User ID is sent to registered email ID.

To Retrieve Password:

1. On the IRDA BAP portal login screen, click Forgot User Id / Password. The Retrieve User ID/Password screen is displayed.

2. In Retrieval Type, select Password. Additional fields are displayed.

Figure 13: Retrieve Password Options


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3. In User ID field, enter user ID.

4. Click Submit. additional fields are displayed.

Figure 14: Additional Retrieve Password Options

5. From Security Question drop-down list, select the question that is selected while registration.

6. In Security Answer field, enter the answer to the security question.

Figure 15: Retrieve Password Process 7. Click Retrieve Password. Acknowledgement message dialog box is displayed,

notifying that new password has been sent to the registered Email ID.


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Figure 16: Retrieve Password Process

8. Click OK. The password is sent to the registered email ID.

If user enters incorrect retrieval information, an error message is displayed.

Figure 17: Incorrect retrieval information error message

Broker User Manual User Profile for Master ID

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User Profile for Master ID

When user you logs into the portal, the User Profile screen is displayed. On this screen, user can change password and update profile.

Figure 18: User Profile Screen for Master ID

To Change Password:

1. On the User Profile screen, click Change Password. The Change Password screen is displayed.


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Figure 19: User Profile - Change Password screen

2. In Old Password field, enter the current password. 3. In New Password field, enter the new password.

4. In Confirm New Password field, re-enter the new password.

5. Click Change Password. Acknowledgement dialog box is displayed notifying that your password has been changed successfully. Click OK

Figure 20: Password Change Confirmation Message

To Update User Profile:

1. On the User Profile screen, click Update User Profile. The Update User Profile screen is displayed. Through this screen, user can only update the contact details.


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Figure 21: Update User Profile Screen

2. Click Submit. An Acknowledgement dialog box is displayed notifying that the profile has been successfully updated.

Figure 22: User Profile Update Confirmation Message

3. Click OK.

Broker User Manual User Profile for Sub Login ID

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User Profile for Sub Login ID

When user log into the portal using broker sub ID, the User Profile screen is displayed.

1. On this screen, user has to first enter the security question and answer.

Figure 23: Updating Security Question and Answer

2. Click Submit.

Figure 24: User Profile Screen for Sub Login ID


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On this screen, user can change password and update the profile. User also needs to upload the digital signature from this page.

To Change Password:

1. On the User Profile screen, click Change Password. The Change Password screen is displayed.

Figure 25: User Profile - Change Password screen

2. In Old Password field, enter the current password. 3. In New Password field, enter the new password.

4. In Confirm New Password field, re-enter the new password.

5. Click Change Password. Acknowledgement dialog box is displayed notifying that the password has been changed successfully.

Figure 26: Password Change confirmation message

6. Click OK.

To Update User Profile:

1. On the User Profile screen, click Update User Profile. The Update User Profile screen is displayed. Through this screen user can only update the security question and answer.


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Figure 27: Update User Profile screen

2. Click Submit. Acknowledgement dialog box is displayed notifying that user profile has been successfully updated.

Figure 28: User Profile Update Confirmation Message

3. Click OK.

Register Digital Signature is displayed in User Profile of Directors only.

Broker User Manual Description of the menu tabs for Master IDs

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Description of the menu tabs for Master IDs

The Master ID screen contains the following menu tabs: 1. Create Sub ID – User can create sub ids for employees and authorized

signatories of the company. User is allowed to create sub ids for 2 authorized signatories and 1 employee.

2. Update/ Delete Sub ID – User can update the designation, email id and

contact number of any of the authorized signatories and employees. At the same time user can also delete any of the authorized signatories / employee IDs created on the portal.

Broker User Manual Description of the menu tabs for Sub ID

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Description of the menu tabs for Sub ID

The Sub ID screen contains the following menu tabs:

1. Licensing - Allows user to apply for a new license, renew license, duplicate license, changes during licensing period, change in license category and pay annual fees.

2. Returns: Allows user you to submit returns that include information related to the business conducted by firm during the financial year.

3. View Application Status - Allows user to track the status of the submitted applications.

4. View License Details- Allows user to view the status and other information related to License.

5. Pending for clarification - Allows user to upload additional documents and provide clarification required by IRDAI during processing of applications.

6. Pay Penalty: Allows user to view and pay the penalties imposed on the user you by IRDA.

Broker User Manual Digital Signature

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Digital Signature

In Digital Signature, user needs to register the digital signature that user wants to use for their corporate Broker. User can obtain the digital signature from several companies/authorities/agencies that provide them. There are two options by which user can register the digital signature.

Option 1: Uploading the digital signature through the BAP portal - In this option user can upload the digital signature through BAP portal and then register it. Then, whenever user needs to attach the signature, user will have to upload the signature again.

Option 2: Importing the digital signature on your browser - In this option, user can upload the digital signature in any browser and then register it. Then, whenever user wants to attach the signature, user just needs to click the Attach Digital Signature button and select the signature that user has imported on the browser.

Option 1 - Uploading the digital signature through the BAP portal:

1. On the User Profile screen, click Register Digital Signature. The Web Signer dialog box opens.


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Figure 29: User Profile screen

Figure 30: Web Signer dialog box


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2. Click P12/PFX tab.

3. Click Browse to search for the digital signature and click OK to upload it. The Password Required dialog box is displayed.

Figure 31: Password required dialog box

4. Enter the password provided by the digital signature provider and click OK. The details of the uploaded digital signature are displayed in a table.

Figure 32: Web Signer dialog box displaying the uploaded signature

5. Select the signature from the table and click Sign. Again, the Password Required dialog box is displayed.

6. Enter the password provided by the digital signature provider and click OK.


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Figure 33: Password required dialog box

The Web Signer dialog box closes and a success message is displayed in the User Profile screen notifying that the digital signature is successfully uploaded.

If user registers the signature through this option, then, whenever user wants to attach digital signature for any form, user will have to go through the entire process.

Option 2 - Importing the digital signature on your browser:

1. Double click the digital signature certificate. The Certificate Import Wizard opens.

2. Click “Next” twice. The wizard asks user you for password of the digital signature.

3. Enter the password and click “Next” twice.

4. Click Finish.

5. Login to the BAP portal.

6. On the User Profile screen, click Register Digital Signature. The Web Signer dialog box opens. The available signatures are displayed in a table.


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Figure 34: Web Signer dialog box displaying the uploaded signature

7. Select the signature that user wants to register and click Sign. Now, whenever user wants to attach the digital signature for any form, user will have to click the Attach Digital Signature button and then select the desired sign.

For importing the digital signature on the browser, system must havee the following installed:

Java Runtime Environment 1.6 and above

Internet Explorer 7 and above

Broker User Manual Creating Sub IDs

Version 9.0 30

Creating Sub IDs

As a Corporate Broker, user you can create 3 sub login IDs on the BAP Portal, using the Master ID. Two of the created sub IDs are for 2 authorized signatories who can digitally sign the applications and returns, and third sub ID is for the employee.

Creating a New Sub ID

1. Click Create Sub ID. 2. The create sub id screen will open. All mandatory fields on the form are marked

with an asterisk (*)

Figure 35: Create Sub ID Screen

The details on Create Sub ID screen are explained in the following table:

Field Description

First Name Enter First Name of the authorized signatory /employee.

Middle Name Enter Middle Name of the authorized signatory /employee.

Last Name Enter Last Name of the authorized signatory /employee.

Designation Select the designation for which sub ID is to be created

PAN Number Enter PAN number of the authorized signatory / employee

Email ID Enter email Id of the authorized signatory/ employee

Date of Birth Enter Date of Birth of the authorized signatory /employee

Broker User Manual Creating Sub IDs

Version 9.0 31

Contact Number Enter Contact number of the authorized signatory /employee

3. Click Create ID. An Acknowledgement dialog box is displayed along with the

User ID details, notifying that the registration is successful.

Figure 36: Sub ID Creation Confirmation Screen

4. Click OK. 5. Click Cancel will take user to the previous page without saving any information

filled on this page. 6. Clicking on Clear will clear all contents filled on this screen.

User is allowed to create only 3 sub ids. Please delete all existing sub ids which are not required anymore so as to create new sub IDs.

Broker User Manual Updating a Sub ID

Version 9.0 32

Updating a Sub ID

User can update the details of the sub IDs created as well.

Updating a Sub ID

1. Click Update Sub ID link.

Figure 37: Update/Delete Sub ID Screen

2. Select the User Id to be updated and Click Update to view Update/Delete ID Screen.

Broker User Manual Updating a Sub ID

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Figure 38: Update Sub ID Screen

3. User can update the Designation, Email ID and Contact Number for the Sub ID created.

4. Click Update ID. An acknowledgement message will be displayed on screen.

Figure 39: Successful Updation Acknowledgement Dialog Box

5. Click OK 6. Click Cancel will take the user to the previous page without saving any

information filled on this page.

Broker User Manual Deleting a Sub ID

Version 9.0 34

Deleting a Sub ID

You can delete the details of the sub ID’s created as well.

To Delete Sub ID:

1. Click on Update/Delete Sub ID. List of all the created Sub IDs will be displayed

Figure 40: Update/Delete Sub ID Screen

2. Select the Sub ID which is to be deleted and click on Delete. A Confirmation dialog box is displayed.

Figure 41: Delete Sub ID Screen 3. A confirmation Message will be displayed, with Yes and No button.

Broker User Manual Deleting a Sub ID

Version 9.0 35

Figure 42: Message Pre-Deletion

4. If user wants to proceed with deleting the user account then Click “Yes” else

click “No”.

5. If user clicks “Yes”, the sub ID will be deleted. If user clicks “No”, user will be

taken back to Update/ Delete sub id screen.

6. Click Cancel will take user to the previous page without saving any

information filled on this page.

Broker User Manual Broker Licensing

Version 9.0 36

Broker Licensing

If user wants to become a corporate Broker, then user needs to register his Company in the portal. During the new license application process, user has to enter details of the broker employed in the Company, the directors of the firm, upload the necessary documents and pay the required fee. After IRDAI approves your request, it issues user a separate license. User is also required to renew the license periodically. As per IRDAI regulations, corporate brokers are required to renew their license every three years. User can also apply for changes in the license details. Broker can apply for license in any one of the following categories:

1. Direct Life 2. Direct Non-Life 3. Direct (Life & Non-Life) 4. Composite (Non-Life) 5. Composite (Both) 6. Reinsurance Broker

As per IRDA regulations, brokers are required to renew their licence every three years. Licensing comprises of the following sections:

1. New License 2. Renew License 3. Duplicate License 4. Changes during Licensing Period 5. Changes in Licensing Category 6. Pay Annual Fees

Broker User Manual New License

Version 9.0 37

New License

In order to obtain a new corporate broker license, user has to fill and submit an application form to IRDAI along with the scanned copies of the supporting documents. The employee can only save the form in draft mode and cannot submit the form. Submissions can only be done by authorized signatories of the firm. When one of the authorized signatories submit the form, it must be signed by other authorized signatory also before it goes to IRDAI for approval. IRDAI reviews and validates the application and then approves, rejects or closes it.

To apply for a New License:

1. Click 'Broker' 2. Click New Licensing. 3. User will get a confirmation box saying "Please confirm that you have gone

through all information regarding broker regulations on IRDA site (www.irdabap.gov.in)".

Figure 43: User Confirmation Screen

4. If user clicks “Yes”, user will get Applicant Details screen.

5. If user clicks No, a message box is displayed stating that user needs to go through the broker regulations before proceeding to the licensing process.

Figure 44: Confirmation Message box


Broker User Manual Licensing

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Figure 45: New License Application Screen

6. The Broker New Licensing form will open on screen. Please note that all fields

marked with asterisks (*) on the screen are compulsory.

The New License application consists of the following sections:

Applicant Details

Organization Structure

Business Information

Financial Information

Other Information, if any

Upload Documents

Declaration

Undertaking

Print View


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The buttons available in the New License application are explained below:

Button Description

Attach Digital Signature

Click to attach digital signature to the license application

Submit After the declaration check box is selected, click Submit to submit the application. (Submit gets enabled only after the attachment of Digital Signature by both the directors)

Cancel Click to return to the home page. This action will also clear all the information entered without saving it.

Save as Draft Click to save all the data entered in the form. User You can use this option if they want to submit the form at a later time.

View Submitted Form

Click to view the submitted New License Application in read only mode.

Print Click to print the submitted New License Application

Clear Click to clear the data entered.

Previous Click to go to previous section.

Next Click to go to the next section.

The digital signature of the both the authorized signatures of the firm are required for the successful submission of the form

Broker User Manual Applicant Details

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Applicant Details

The Applicant Details screen displays address details and communication details of the organization.

To view Applicant Details screen

1. Click Broker tab. 2. Click New Licensing tab. 3. User will get a confirmation box saying "Please confirm that you have gone

through all information regarding broker regulations on IRDA site (www.irda.gov.in)".

4. If user you click “Yes”, Applicant Details screen will appear.

http://hydlntiqep01v.irdaonline.org:50000/irj/portal/anonymous


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Figure 46: Applicant Details Screen 5. If user clicks “No”, a new window is opened which navigates user you to the IRDAI

website where user can view the broker regulations. 6. Applicant Details screen will allow the user to select Broker Category. 7. Select appropriate broker category in the 'Insurance Broker' field.

Other than 'Insurance Broker' all other fields on the Applicant Details screen are read only.

Back (Changes in License Category)

Broker User Manual Organization Structure

Version 9.0 42


In Organizational structure, user has you need to mention details regarding shareholders, directors, partners, proprietors, bankers, auditors and activities associated with the company.

To view Organizational Structure screen:

On the Applicant Details screen, click “Next”. The Organization Structure screen is displayed. All mandatory fields on the form are marked with an asterisk (*).


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Figure 47: Organization Structure Screen


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The fields in Organizational Structure screen are described in the following table.

Field Description


Status of applicant Select one of the following status that is applicable:

Individual/ Sole Proprietor

Partnership

Company

Co. operative society

Others

Stock exchange Enter the name of stock exchange with which the company is listed. If not, mention “Not Applicable”.

Latest share price Enter latest share price of the company here.

Date and Place of Incorporation

Date Enter date of incorporation here.

Place Enter place of incorporation here.

Scope of Business as described in Memorandum of Association

Enter scope of business as described in Memorandum of Association. Details entered should be exactly same as provided to IRDAI.

Shareholder Details

Shareholding as on date Enter date on which we are recording shareholding details

Name of the shareholder Enter name of the shareholder.

Number of shares Against each shareholder, mention the number of shares.

Percentage of total paid up capital of the company

Enter percentage of total paid up capital of the company.

Foreign holding Select 'Yes' if shareholder has a foreign holding. Otherwise, ‘No’.

Particulars of Directors/ Partners/ Proprietors

Name Enter name of the directors/ partners/ proprietors.

Qualification Enter qualifications of directors/ partners/ proprietors.

Experience in insurance Enter experience in insurance broking of directors/


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broking partners/ proprietors.

Share in applicant firm/company

Enter share in applicant firm/company of directors/ partners/ proprietors.

Directorship in other companies

Enter number of companies that the Directors/ Partners/ Proprietors holds directorship

Name of activities carried out by the associated company/concerns

Name of the company or the firm

Enter name of the associated company.

Address Enter address of the associated company.

Type of activity handled Enter type of activity handled by the associated company.

Nature and interest of applicant company

Enter nature and interest of the applicant company.

Whether any one or more persons of the associate

Companies/ concerns are interested in the applicant's business.

If one or more persons of the associate

Company / concerns are interested in the applicant's business, then select 'Yes' else select 'No'

Name and Address of the Principal bankers of the applicant

Name of the Banker Enter name of the principal banker.

Address Line 1 Enter first line of the principal banker’s address.

Address Line 2 Enter second line of the principal banker’s address.

Address Line 3 Enter third line of the principal banker’s address.

Country This field displays the country. By default, India is displayed.

State Enter state of the principal banker

District Enter district of the principal banker

City Enter city of the principal banker

Pin code Enter pin code of the principal banker

Name and Address of the Statutory Auditor of the applicant

Name of the Statutory Auditor

Enter name of Statutory Auditor


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Address Line 1 Enter first line of the Statutory Auditor’s address

Address Line 2 Enter second line address of the Statutory Auditor’s address

Address Line 3 Enter third line of the Statutory Auditor’s address

Country India is displayed by default

State Select state from the drop-down list.

District Select district from the drop-down list. List of districts will come on the basis of state selected.

City Select city from the drop-down list. List of cities will come on the basis of district selected.

Pin code Enter pin code of the Statutory Auditor



Version 9.0 47


In Business Information, user needs to mention details regarding key management personnel, infrastructure, manpower and experience in the relevant industry etc.

To view Business Information screen:

On the Organization Structure screen, click Next. The Business Information screen is displayed. All mandatory fields on the form are marked with an asterisk (*)

Figure 48: Business Information Screen The fields in Business Information screen are described in the following table.

Field Description

Particulars of key management personnel

Name Enter name of the management personnel.


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Field Description

Qualification Enter educational qualification of the management personnel.

Experience with particular reference to Insurance Broking

Enter number of years of experience as insurance broker of the management personnel

Date of appointment Enter date of appointment of management personnel to the current job.

Functional areas Enter functional areas relevant to the management personnel.

Details of infrastructure like office space, equipment and manpower available with the applicant

Enter details of infrastructure like office space, equipment and manpower available with the applicant

Details of experience in insurance broking/insurance consulting/risk management and other services

Enter details of experience in insurance broking/insurance consulting/risk management and other services

Any other information considered relevant to the nature of services rendered by the applicant

Enter any other information considered relevant to the nature of services rendered by the applicant


Broker User Manual Financial Information

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In Financial Information, you need to mention details such as capital structure, deployment of resources, and major source of income, income and profit before tax, dividends, etc.

To view Financial Information screen:

On the Business Information screen, click Next. The Financial Information screen is displayed. All mandatory fields on the form are marked with an asterisk (*)


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Figure 49: Financial Information Screen The fields in Financial Information screen are described in the following table.

Field Description

Capital Structure

Capital Structure Lists different capitals under the capital structure of the


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Field Description

company. This includes: Authorized Capital, Issue Capital, Paid-up Capital, Free reserves, and Paid up + free reserves.

Year prior to preceding year

Field is disabled by default for New License only

Preceding year Field is disabled by default for New License only

Current year Enter the capital amount in the current year

Deployment of resources

Particulars Lists the different financial resources available with the organization




Current year Enter the financial value of the respective resource in the current year

Major source of income

Particulars Lists down the possible income streams of the applicant




Re numeration received as percentage of premium

Enter Re numeration received as percentage of premium

Income and Profit before tax

Particulars Income Enter values such as category of income/ expenses or profit before taxes




Current year Enter income from the respective income stream for the current year.

Dividends


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Field Description

Particulars Lists the dividends in terms of amount and percentage




Current year Enter the dividends amount for the current year.


Broker User Manual Other Information

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Other Information

In Other Information, you need to mention details such as Details of all settled and pending disputes and economic offences if any.

To view Other Information screens:

On the Financial Information screen, click Next. The Other Information screen is displayed. All mandatory fields on the form are marked with an asterisk (*)

Figure 50: Other Information Screen

The fields in Other Information screen are described in the following table.

Field Description

Details of all settled and pending disputes

Nature of dispute Enter the nature of dispute

Name of the party Enter the name of the party with whom the applicant is in dispute with


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Field Description

Pending/settled Select either pending or settled

Details, if any of any economic offences by the

applicant/ proprietor or any of the Partners/

Directors, or key managerial Personnel in the last three years

Enter Details, if any of any economic offences by the

applicant/ proprietor or any of the Partners/

Directors, or key managerial Personnel in the last three year


Broker User Manual Upload Documents

Version 9.0 55

Upload Documents

In Upload Documents, you need to upload the necessary documents for the

successful submission of the New License application

View Upload Documents screen:

On the Other Information screen, click Next. The Upload Documents screen is displayed. All mandatory fields on the form are marked with an asterisk (*).


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Figure 51: Upload Documents Screen

To Upload Documents:

1. Under Documents required, click Browse to search for the corresponding

Document. 2. Click Upload File to upload the corresponding document. The name of the

uploaded document appears beside the Upload File button. Back (Changes in License Category)

Broker User Manual Declaration

Version 9.0 57

Declaration

Declaration section has 2 parts namely Fee Payment and Declaration. The Fee Payment part will specify the amount of fees to be paid by the Broker to obtain this license. The Declarations part will specify important points that the user is expected to read and agree to before proceeding.

Figure 52: Declaration Screen Back (Changes in License Category)

Broker User Manual Undertaking

Version 9.0 58

Undertaking

In this section, you need to provide information such as if any person related to the applicant has been denied license in the past. If yes then specify the relationship with the applicant. Other information such as list of employees who will be responsible for soliciting and procuring Insurance business and details of the fixed deposit for renewal of license will also be mentioned here.

To View Under taking screen:

On the Declaration screen, click Next. The Undertaking screen is displayed. All mandatory fields on the form are marked with an asterisk (*)

Figure 53: Undertaking Screen


Version 9.0 59

The fields in undertaking screen are described in the following table.

Field Description

Whether any person related to applicant has been refused for the License in the Past or Not.

Select either 'Yes' or 'No'

Person Related to applicant

Name of the person Enter name of the person related (If a person related to the applicant has been denied license in the past )

Relationship with the applicant Enter relationship with the applicant (If a person related to the applicant has been denied license in the past )

Qualification and Experience details of the Principal Officer of the applicant

Name Enter name of the principal officer of the applicant

Address Enter address of the principal officer of the applicant

Qualification Enter qualification of the principal officer of the applicant

Prior Experience Enter years of prior experience of the principal officer of the applicant

Previous Employment Enter previous employment of the principal officer of the applicant

Employment Details Enter employment details the principal officer of the applicant

List of employees who will be responsible for soliciting and procuring insurance business

Name Enter name of the employee who will be responsible for soliciting and procuring insurance business

Address Enter address of the employee who will be responsible for soliciting and procuring insurance business

Designation Enter designation of the employee who will be responsible for soliciting and procuring insurance business


Version 9.0 60

Field Description

Qualification Enter qualification of the employee who will be responsible for soliciting and procuring insurance business

Details of Responsibilities Enter responsibilities of the employee who will be responsible for soliciting and procuring insurance business

Details of the fixed deposit for renewal of license

Name of the Bank Enter name of the bank in which the applicant has a fixed deposit

F. D Number Enter fixed deposit number

Address Enter address of the bank in which the applicant has a fixed deposit

Amount held in deposit Enter amount held in the fixed deposit

Percentage to Initial Capital Enter Percentage to Initial Capital

Maturity Date Enter maturity date of the fixed deposit


Broker User Manual Print View

Version 9.0 61

Print View

In Print View, validate and confirm the information submitted by you in the application, in order to proceed with the submission.

To view Print View screen:

On the Undertaking screen, click Next. The Print View screen is displayed. All mandatory fields on the form are marked with an asterisk (*)


Version 9.0 62


Version 9.0 63

Figure 54: Print View Screen


Version 9.0 64

To submit New License Application:

1. On the Print view screen, select the Declaration check box.

2. Click Attach Digital Signature button. If you have uploaded the digital signature through the BAP portal, then you need to upload it again. Otherwise, if you have imported the signature on your web browser, then it will be attached as soon as you click on button. See the Digital Signature topic for more details.

3. Click Submit. The User Confirmation Message dialog box is displayed.

Figure 55: User Confirmation Message for Payment

4. Click yes to proceed to payment. The Make Payment screen is displayed

Figure 56: Make Payment screen

5. Select the desired payment type and click Go to make payment through that type. The different payment types are explained below.

Payment through DD - Select this payment type if you want to make your payment through demand draft. You need to create the demand draft first and then enter its details in this payment type.


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Figure 57: Demand Draft Details screen

The fields in this payment type are explained in the following table.

Field Description

Instrument number Enter the demand draft number.

Amount to be paid (Rs.)

The amount payable is displayed by default.

Bank Name Enter the name of the bank from which you created the demand draft.

Amount of Instrument (Rs.)

Enter the amount of the demand draft.

Instrument Date Select the date when you created the demand draft.

Payment through NEFT/RTGS - Select this payment type if you want to make your payment through NEFT/RTGS. For this payment type, you need to make payment to IRDA through NEFT/RTGS and then enter the payment details in this payment type.

Figure 58: NEFT/RTGS Details screen


Field Description

Acknowledgement No.

Enter the acknowledgement number received after making the online payment.


Version 9.0 66

Field Description



Bank Name Enter the name of the bank through which you made the payment.

Enter your IFSC code Enter the IFSC code of your bank branch.

Date of Payment Select the date when you made the payment.

Enter your Account Number

Enter your bank account number.

Amount of Payment (Rs.)

Enter the amount of the payment made.

6. Enter the necessary details for the selected payment type and click Submit. Transaction ID is generated; Click OK to complete payment process.

Figure 59: Form Submitted Successfully Notification

7. On OK, an Acknowledgement dialog box is displayed containing the Unique Reference Number (URN).


8. Click OK.


Version 9.0 67

This completes the New License application process. After you successfully submit the form, it is sent to IRDA. The action taken by IRDA on the form is conveyed to you in the form of E mail notifications. Back (Changes in License Category)

Broker User Manual Renewal License

Version 9.0 68

Renewal License

Each Insurance Broker license has a validity period after which the license expires if it is not renewed. As per IRDA regulations, you need to renew your Insurance Broker license every three years. IRDA sends you a remainder emails 3 months before the license expiration. These reminders are sent at interval of 1 month each informing you to renew your license before expiry. You are also required to pay the required renewal license fee. There are certain prerequisite and conditions that you need to remember while renewing your license. In order to obtain a Renewal license, you need to fill and submit an application form to IRDA along with the scanned copies of the supporting documents. The Data entry operator can only save the form in the draft mode and cannot submit the form. Submissions can only be done by the directors of the firm. When one of the directors submits the form, it must be signed by the other director also before it goes to IRDA for approval. IRDA then reviews and validates the application and then approves rejects or closes it.

Prerequisite for License Renewal

You can renew your license 90 days before the date of expiration. If you apply for renewal three months before the license expiry date, a warning message is displayed.

Figure 61: Renewal warning message when attempting to renew 3 months before from the date of expiry

You cannot renew the application, 3 Years before the License Expiration Date. If you apply for renewal, a warning message is displayed.


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Figure 62: Renewal warning message when attempting to renew 3 Years before from the date of expiry

Conditions for Late Renewal

Condition Description

Renew License application submitted one month or more before License expiry date

Renewal fee of Rs 1000

Renew License application submitted within less than thirty days before License expiry date

Renewal fee of Rs 1000 and late Fee of

Rs 100

Renew License application submitted after License Expiry date

Renewal Fee of Rs 1000 and Late Fee of Rs 750

To apply for license renewal:

1. Click Broker tab.

2. Click Renew License link. The License Renewal screen is displayed.


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Figure 63: Renew License Screen

3. The License Renewal form comprises of the following sections:

Applicant Details




Other Information

Upload Documents

Declaration

Undertaking

Print View

4. The buttons available in the License Renewal form are explained in the following table.

Button Description


Click to attach digital signature to the license application.

Submit Click to submit the application form once you have selected the declaration check box. (Submit button will be enabled only after attachment of digital signature by both the directors).


View Submitted Form

Click to view the submitted form in read-only mode.

Print Click to print the License Renewal form.


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Clear Click to clear the information entered.

Back Click to go to previous section.

Next Click to go to next section.

If you renew your license after it has expired, then, a warning message is displayed notifying that your license has expired and it also displays the amount of the late and renewal fee that you need to pay.

Broker User Manual Applicant Details

Version 9.0 72

Applicant Details

The Applicant Details screen displays address details and communication details of the organization.

To view Applicant Details screen

1. Click Broker tab. 2. Click Renewal Licensing tab. 3. You will get a confirmation box saying "Please confirm that you have gone

through all information regarding broker regulations on IRDA site (www.irdabap.gov.in)".

4. If you click “Yes”, you will get Applicant Details screen.



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Figure 64: Applicant Details Screen

5. If you click “No”, a new window is opened which navigates you to the IRDA website

where you can view the Broker regulations. 6. All fields are pre-populated in this section. Hence, you can click “Next” to go to next

screen.

Broker User Manual Organization Structure

Version 9.0 74


In Organizational structure, you need to mention details regarding shareholders, directors, partners, proprietors, bankers, auditors and activities associated with the company.

To view Organizational Structure screen:

On the Applicant Details screen, click “Next”. The Organization Structure screen is displayed. All mandatory fields on the form are marked with an asterisk (*).


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Figure 65: Organization Structure Screen The fields in Organizational Structure screen are described in the following table.

Field Description


Version 9.0 76

Shareholder Details

Name of the share holder Enter name of the share holder here

Number of shares Enter number of shares with the share holder

Percentage of total paid up capital of the company

Enter Percentage of total paid up capital of the company

Foreign holding Select 'Yes' if the shareholder has a foreign holding and 'No' otherwise

Particulars of Directors/ Partners/ Proprietors

Name Enter name of the Directors/ Partners/ Proprietors

Qualification Enter qualification of Directors/ Partners/ Proprietors

Experience in insurance broking Enter Experience in insurance broking of Directors/ Partners/ Proprietors

Share in applicant firm/company Enter Share in applicant firm/company of Directors/ Partners/ Proprietors

Directorship in other companies Enter the number of companies that the Directors/ Partners/ Proprietors holds Directorship

Name of activities carried out by the associated company/concerns

Name of the company or the firm Enter name of the associated company

Address Enter Address of the associated company

Type of activity handled Enter type of activity handled by the associated company

Nature and interest of applicant company

Enter nature and interest of the applicant company

Whether any one or more persons of the associate

Companies/ concerns are interested in the applicant's business.

If one or more persons of the associate

companies/ concerns are interested in the applicant's business then select 'Yes' else select 'No'

Name and Address of the Principal bankers of the applicant

Name of the Banker Enter name of the principal banker


Version 9.0 77

Address Line 1 Enter first line of the principal banker’s address

Address Line 2 Enter second line of the principal banker’s address

Address Line 3 Enter third line of the principal banker’s address


State Enter state of the principal banker

District Enter district of the principal banker

City Enter city of the principal banker

Pin code Enter pin code of the principal banker

Name and Address of the Statutory Auditor of the applicant

Name of the Statutory Auditor Enter name of Statutory Auditor

Address Line 1 Enter first line of the Statutory Auditor’s address

Address Line 2 Enter second line of the Statutory Auditor’s address

Address Line 3 Enter third line of the Statutory Auditor’s address


State Enter state of the Statutory Auditor

District Enter district of the Statutory Auditor

City Enter city of the Statutory Auditor

Pin code Enter pin code of the Statutory Auditor

Broker User Manual Business Information

Version 9.0 78


In Business Information, you need to mention details regarding key management personnel, infrastructure, manpower, and experience in the relevant industry etc.

To view Business Information screen:

On the Organization Structure screen, click Next. The Business Information screen is displayed. All mandatory fields on the form are marked with an asterisk (*)

Figure 66: Business Information Screen


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The fields in Business Information screen are described in the following table.

Field Description

Business handled during the last three years with Insurers and list of reinsurers

Name Enter name of the Insurer

Amount Enter the Amount handled during the last three years

Percentage of total premium handled by the broker

Enter the percentage of total premium handled by the broker

Service Rendered Enter the service rendered during the last three years

Broker User Manual Financial Information

Version 9.0 80


In Financial Information, you need to mention details such as Capital structure, deployment of resources, major source of income, income and profit before tax, dividends etc

To view Financial Information screen:

On the Business Information screen, click Next . The Financial Information screen

is displayed. All mandatory fields on the form are marked with an asterisk (*).


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Figure 67: Financial Information Screen


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The fields in Financial Information screen are described in the following table.

Field Description

Capital Structure

Capital Structure Lists different capitals under the capital structure of the company. This includes: Authorized Capital, Issue Capital,

Paid-up Capital, Free reserves, Paid up+ free reserves.


Enter the capital amount in the year prior to preceding year (Field is pre-populated with preceding year values)

Preceding year Enter the capital amount in the preceding year

Current year Enter the capital amount in the current year

Deployment of resources

Particulars lists the different financial resources available with the organization


Enter the financial value of the respective resource in the year prior to preceding year. (Field is pre-populated with preceding year values)

Preceding year Enter the financial value of the respective resource in the preceding year

Current year Enter the financial value of the respective resource in the current year

Major source of income

Particulars lists down the possible income streams of the applicant


Enter income from the respective income stream for the year prior to preceding year. (Field is pre-populated with preceding year values)

Preceding year Enter income from the respective income stream for the preceding year

Re numeration received as percentage of premium

Enter Re numeration received as percentage of premium

Income and Profit before tax

Particulars Income Enter values such as category of income/ expenses or profit before taxes


Version 9.0 83

Field Description


Enter income from the respective income stream for the year prior to preceding year. (Field is pre-populated with preceding year values)

Preceding year Enter income from the respective income stream for the preceding year

Current year Enter income from the respective income stream for the current year.

Dividends

Particulars lists the dividends in terms of amount and percentage


Enter dividend details for year prior to preceding year. (Field is pre-populated with preceding year values)

Preceding year Enter dividend details for preceding year

Current year Enter dividend details for current year

Broker User Manual Other Information

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Other Information

In Other Information, you need to mention details such as Details of all settled and pending disputes and economic offences if any.

To view Other Information screens:

On the Financial Information screen, click Next. The Other Information screen is displayed. All mandatory fields on the form are marked with an asterisk (*)

Figure 68: Other Information Screen All fields pre-populated in this section. Click “Next” to go to Upload Documents Section


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Upload Documents

In Upload Documents, you need to upload the necessary documents for the successful submission of the Renewal License application.

To view Upload Documents screen:

On the Other Information screen click Next, Upload document screen gets displayed. All mandatory fields on the form are marked with an asterisk (*).


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Figure 69: Upload Documents Screen

To upload documents:

1. Under Check list for documents to be attached, click Browse to search for the corresponding document.

2. Click Upload to upload the corresponding document. The name of the uploaded document appears next to the Upload button.

Broker User Manual Declaration

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Declaration

Declaration section has 2 parts namely Fee Payment and Declaration. The Fee Payment part will specify the amount of fees to be paid by the Broker to obtain this license. The Declarations part will specify important points that the user is expected to read and agree to before proceeding.

Figure 70: Declaration Screen


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Undertaking

In this section, you need to provide information such as if any person related to the applicant has been denied license in the past. If yes then what is his relationship with the applicant. Other information such as list of employees who will be responsible for soliciting and procuring Insurance business and details of the fixed deposit for renewal of license will also be mentioned here.

To View Under taking screen:

On the Declaration screen, click Next. The Undertaking screen is displayed. All mandatory fields on the form are marked with an asterisk (*)

Figure 71: Undertaking Screen


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The fields in undertaking screen are described in the following table.

Field Description

Whether any person related to applicant has been refused for the License in the Past or Not.

Select either 'Yes' or 'No'

Person Related to applicant

Name of the person Enter name of the person related (If a person related to the applicant has been denied license in the past )

Relationship with the applicant Enter relationship with the applicant (If a person related to the applicant has been denied license in the past )

Qualification and Experience details of the Principal Officer of the applicant

Name Enter name of the principal officer of the applicant

Address Enter address of the principal officer of the applicant

Qualification Enter qualification of the principal officer of the applicant

Prior Experience Enter years of prior experience of the principal officer of the applicant

Previous Employment Enter previous employment of the principal officer of the applicant

Employment Details Enter employment details the principal officer of the applicant

List of employees who will be responsible for soliciting and procuring insurance business

Name Enter name of the employee who will be responsible for soliciting and procuring insurance business

Address Enter address of the employee who will be responsible for soliciting and procuring insurance business

Designation Enter designation of the employee who will be responsible for soliciting and procuring insurance business


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Field Description

Qualification Enter qualification of the employee who will be responsible for soliciting and procuring insurance business

Details of Responsibilities Enter responsibilities of the employee who will be responsible for soliciting and procuring insurance business

Details of the fixed deposit for renewal of license

Name of the Bank Enter name of the bank in which the applicant has a fixed deposit

F. D Number Enter fixed deposit number

Address Enter address of the bank in which the applicant has a fixed deposit

Amount held in deposit Enter amount held in the fixed deposit

Percentage to Initial Capital Enter Percentage to Initial Capital

Maturity Date Enter maturity date of the fixed deposit

Broker User Manual Print view

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Print view

In Print view, validate and confirm the information that you have entered previously in the application, in order to proceed with the submission.

To view Print view screen:

On the Upload Documents screen, click. Next. The Form Preview screen is displayed.


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Figure 72: Print View Screen

To submit Renew License Application:

1. On the Print view screen, select the Declaration check box.

2. Click Attach Digital Signature button. If you have uploaded the digital signature through the BAP portal, then you need to upload it again. Otherwise, if you have imported the signature on your web browser, then it will be attached as soon as you click the button. See the Digital Signature topic for more details.


Figure 73: User Confirmation message for Renewal License

4. Click Yes to proceed to payment. The Make Payment screen is displayed.

Figure 74: Make Payment Screen

5. Select the desired payment type and click Go to make payment through that type.


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6. The different payment types are explained below.




Field Description












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Field Description

Acknowledgement No.











7. Enter the necessary details for the selected payment type and click Submit.

8. Transaction ID is generated on click of submit button. Click OK to complete the payment process.

Figure 77: Confirmation Message for Make Payment

9. An Acknowledgement dialog box is displayed containing the Unique Reference Number (URN).



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10. Click OK.

If your renew license request is rejected, IRDA sends you an email notification stating the reason for rejection

Broker User Manual Duplicate License

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Duplicate License

In Duplicate License, you can apply for a duplicate license if your license has been lost, destroyed.

To view Duplicate License screen:

1. Click Broker tab. 2. Click Licensing tab. 3. On the Licensing screen, click Duplicate License. The Duplicate License

screen is displayed. It contains the license number and the expiry date of your license. All the mandatory fields are marked with an asterisk (*).

Figure 79: Duplicate License Screen

The buttons available on the Duplicate License Application are explained in the following table.

Button Description


Click to attach digital signature to the license application.


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Submit Click to submit the application form once you have selected the declaration check box. (Submit button will be enabled only after attachment of digital signature by one of the directors).


Save as Draft Click to save all the data entered in the form. You can use this option if you want to submit the form at a later time.

View Submitted Form

Click to view the submitted New License Application in read-only mode.

Print Click to print the New License Application.


To apply for a Duplicate License:

1. On the Duplicate License screen, select the reason and enter the details of the circumstances for which you are applying a duplicate licence.

2. Select declaration check box. 3. Click Attach Digital Signature button. If you have uploaded the digital signature

through the BAP portal, then you need to upload it again. Otherwise, if you have imported the signature on your web browser, then it will be attached as soon as you click the button. See the Digital Signature topic for more details.

4. Click Submit. The User Confirmation Message dialog box is displayed. System displays fees of Rs. 1,000 to be paid on the form. This same amount of fees is charged from applicant’s card/bank via e-payment option during application form submission.

5. The Make Payment screen is displayed.

Figure 80: Make Payment screen


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Select the desired payment type and click Go to make payment through that type.

The different payment types are explained below.




Field Description












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Field Description

Acknowledgement No.











6. Enter the necessary details for the selected payment type and click Submit.

7. Transaction ID is generated. Click OK to complete the payment process.

Figure 83: Confirmation Message for Make Payment

8. An Acknowledgement dialog box is displayed containing the Unique Reference Number (URN).


9. Click OK.


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For ‘Duplicate License’, the digital signature of one of the directors is required for submitting the application form.

After you submit the application, an E mail notification is sent to you informing that your application has been submitted to IRDA.

Broker User Manual Changes During Licensing Period

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Changes During Licensing Period

Post issuance of license, a broker might want to change/update certain information that it provided to IRDA during new/renewal license application. All such information can be provided by broker to IRDA anytime during the year. In “Changes during Licensing Period”, one can update/modify the details using ‘For Information and ‘For Approval’ Category. In the “for information” type the changes can directly be made in the license .However the later requires approval from IRDA before any changes are reflected in the license.

The ‘For information’ type includes:

Information on opening/closing branches, change of registered/branch offices

Transfer of shares, increase in paid up capital/ change in holding company/conversation

Induction of new directors/cessation of existing directors, approval for appointment of director in international bodies

Change in principal officer/key management personnel

Information on particulars of persons responsible for soliciting and procuring broking business

Standing arrangement with Insurance companies and hospitals

Change in name/organization structure

Information/approval for investment of funds

The ‘For Approval’ type includes:

Transfer of shares, increase in paid up capital/change in holding company/conversion of company [Cumulative shareholding after increase 5% or more]

Removal of lien on FD after making fresh FD

Voluntary surrender of license

Approval for opening representative offices abroad

Other representations by brokers on matters of license

Miscellaneous


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To view Changes in licensing screen:

1. Click 'Broker' tab. 2. Click Changes during Licensing period. A confirmation will be displayed.

Figure 85: User Confirmation Message

3. If you click “Yes”, you will get the screen shown below. 4. If you click “No”, a new window is opened which navigates you to the IRDA

website where you can view the Broker regulations. 5. The Changes during licensing period screen will appear. All the mandatory fields

in the selected modification type are marked with an asterisk (*).

Figure 86: Changes during Licensing Period Screen

6. The screen is divided into two parts

For Information - Changes that are just for information of IRDA

Request for Approval- Changes that require approval from IRDA


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7. Select the appropriate option from the ' For Information' and 'Request for Approval' list to go to the required page.

The buttons available on the different forms available under the ‘changes in license’ tab are explained in the following table

Field Description


Click to attach digital signature to the application forms.

Submit Click to submit the application form once you have selected the declaration check box. (Submit button will be enabled only after attachment of digital signature by the directors).

Cancel Click to return to the home page. This also clears any entered data.


View Submitted Form

Click to view the submitted New License Application in read only mode.



Broker User Manual For Information Category

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Information on opening/closing branches, change of registration/branch office

1. On Changes in Licensing screen, select Information on opening/closing branches, change of registered/branch office.

Figure 87: Particulars of registered/branch office Screen

The fields on this screen are described in the following table.

Field Description

Branch Office Details

Address of Office Enter Address of Branch Office

Area Type Select the Area Type of the Branch Office whether Rural/ Urban or Semi Urban

State Enter State of Branch Office

District Enter District of Branch Office

City Enter City of Branch Office


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Person in charge Enter Person in charge of Branch Office

No of broking staff Enter the No of broking staff that will be present at the branch office

No of other staff Enter no of other staff (non broking) present at the branch office

Date of Opening of office Enter the date of opening of this branch office

Whether in Operation or not (Yes/No)

Enter whether the branch office is in operation or not

Date of Closure Enter the date of closure of the branch office if any

Registered Office Details

Address of Office Enter the Address of Registered office

Area Type Select the Area Type of the Registered Office whether Rural/ Urban or Semi Urban

State Enter State of the Registered Office

Activities Enter activities performed in this registered office

Person in charge Enter person in charge of this registered office

No of broking staff Enter the No of broking staff that will be present at the registered office

No of other staff Enter no of other staff (non broking) present at the registered office

Whether a head office (Yes/ No)

Enter whether the registered office is the head office or not

Whether in operation or not

Enter whether the registered office is in operation or not

Upload Documents

Document Proof Enter the Document proof here

2. Make the required changes in your registered office address or add opening /closing details of your office branch.

3. Select the declaration check box.

4. Click Attach Digital Signature button. If you have uploaded the digital signature through the BAP portal, then you need to upload it again. Otherwise, if you have


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imported the signature on your web browser, then it will be attached as soon as you click on button. See the Digital Signature topic for more details


6. Click “Yes” to submit the form. An Acknowledgement dialog box is displayed with an Application Reference Number.

7. Click OK.


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Transfer of shares, increase in paid up capital/change in holding company conversion

1. On Changes in Licensing screen, select Transfer of shares, increase in paid up capital/ change in holding company/conversation

Figure 88: Transfer of shares, increase in paid up capital/ change in holding company/ conversation Screen


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Field Description

Capital Structure

Amount Enter Amount against each type of capital

FDI Details

Shareholder Name Enter the Shareholder Name

Total equity share capital Enter Total Equity Share Capital

% Holding Enter % Holding

Shareholder Details

Category of Shareholder (Foreign Direct/ Foreign Indirect/Indian)

Enter the Category of Shareholder whether Foreign Direct or Foreign Indirect or Indian

Name of Shareholder Enter the Name of Shareholder

Address of Shareholder Enter the Address of Shareholder

Business or Profession Enter the Business or Profession of Shareholder

Shareholder Unique ID (Indian: PAN No) (Foreign: Tax ID)

Enter Shareholder Unique ID. If Indian enter PAN No. If Foreign enter Tax ID

Shareholding as at end of reporting period (number)

Enter number of shares as at end of reporting period

Shareholding as at end of reporting period (amount)

Enter Shareholding amount as at end of reporting period

Date of changes in shareholding during the period

Enter Date of changes in shareholding during the period

Particulars of changes in shareholding during the period

Enter Particulars of changes in shareholding during the period

Loans and Advances to the broker firm

Enter Loans and Advances to the broker firm

Other Investments in the broker firm Enter Other Investments in the broker firm

Initial Subscribers of MOA

Name of the Subscriber Enter Name of the Subscriber

Address of the subscriber Enter address of the subscriber


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Business or Profession Enter Business or Profession of the subscriber














Associate Company Wise

Name of the Associate Enter Name of the Associate

Address of the associate Enter address of the associate

Business or Profession Enter Business or Profession of the associate











Regulatory Body Enter the name of the regulatory body

2. Make the required changes in capital Structure, FDI Details, Shareholder details,

Initial Subscribers of MOA, Associate Company Wise.


4. Click Attach Digital Signature button. If you have uploaded the digital signature through the BAP portal, then you need to upload it again. Otherwise, if you have


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imported the signature on your web browser, then it will be attached as soon as you click on button. See the Digital Signature topic for more details


6. Click “Yes” to submit the form. An Acknowledgement dialog box is displayed with an Application Reference Number. Click OK.


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Induction of new directors/cessation of existing directors, approval for appointment of directors in international bodies

1. On Changes in Licensing screen, select Induction of new directors/cessation of existing directors, approval for appointment of director in international bodies

Figure 89: Board of Director Details Screen The fields on this screen are described in the following table.

Field Description

Details of Board of Directors/ Principal Officer

Name of the person Enter Name of the Board of Directors/


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Principal Officer

PAN No Enter PAN No of the Board of Directors/ Principal Officer

Address (Street, House) Enter Street, House of the Board of Directors/ Principal Officer

State Enter State of the Board of Directors/ Principal Officer

District Enter District of the Board of Directors/ Principal Officer

City Enter City of the Board of Directors/ Principal Officer

Pin Code Enter Pin Code of the Board of Directors/ Principal Officer

Profession Enter Profession of the Board of Directors/ Principal Officer

Appointment/ Cessation Date Enter Appointment/ Cessation Date of the Board of Directors/ Principal Officer

Designation if holding position Enter designation of the Board of Directors/ Principal Officer

Particulars of changes during the period since the last report

Enter Particulars of changes during the period since last report

Details of Directorship in other entities(if any)

Enter Details of Directorship in other entities of the Board of Directors/ Principal Officer

Declarations

I am not suffering from any of the disqualifications specified under sub-section (5) of section 42D of the Insurance Act 1938

If you are not suffering from any of the disqualifications specified under sub-section (5) of section 42D of the Insurance Act 1938 then select ‘Yes’ else select ‘No’

I am not holding Agency/Surveyor/ BROKER license

If you are not holding Agency/Surveyor/ BROKER license select ‘Yes’ else select ‘No’

I do not hold directorship/employment in/or represent any other Insurance related entity

If you do not hold directorship/employment in/or represent any other Insurance related entity then select ‘Yes’ else select ‘No’

I have filed FORM - 32 with ROC If you have filed FORM - 32 with ROC select ‘Yes’ else select ‘No’

Upload Documents


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Form 32 with ROC Upload the Form 32 with ROC document

Board resolution Upload Board resolution of the Board of Directors/ Principal Officer

Curriculum Vitae (CV) Upload Curriculum Vitae (CV) of the Board of Directors/ Principal Officer

Broker exam certificate Upload Broker exam certificate of the Board of Directors/ Principal Officer

Attach scanned copy of affidavit Upload Attach scanned copy of affidavit of the Board of Directors/ Principal Officer

2. Make the required changes in Details of Board of Directors/ Principal Officer.

3. Upload the required documents. Select the declaration check box.

4. Click Attach Digital Signature button. If you have uploaded the digital signature through the BAP portal, then you need to upload it again. Otherwise, if you have imported the signature on your web browser, then it will be attached as soon as you click on button. See the Digital Signature topic for more details



7. Click OK.


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Change in Principal Officer/key management personnel

1. On Changes in Licensing screen, select Change in Principal Officer/key management personnel

Figure 90: Management Details Screen


Field Description

Person in charge of Management

Name of the person Enter Name of Person in charge of Management

Address (Street, House) Enter Street, House of Person in charge of Management


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State Enter State of Person in charge of Management

District Enter District of Person in charge of Management

City Enter City of Person in charge of Management

Pin Code Enter Pin Code of Person in charge of Management

Designation and nature of functions Enter Designation and nature of functions of Person in charge of Management

Qualification and experience including Insurance experience

Enter Qualification and experience including Insurance experience of Person in charge of Management

Insurance experience Enter Insurance experience of Person in charge of Management

Nature and duration of training received

Enter Nature and duration of training received of Person in charge of Management

Particulars of changes during the period

Enter Particulars of changes during the period of Person in charge of Management

Declarations

I am not suffering from any of the disqualifications specified under sub-section (5) of section 42D of the Insurance Act 1938

If you are not suffering from any of the disqualifications specified under sub-section (5) of section 42D of the Insurance Act 1938 then select ‘Yes’ else select ‘No’

I am not holding Agency/Surveyor/ BROKER license

If you are not holding Agency/Surveyor/BROKER license select ‘Yes’ else select ‘No’

I do not hold directorship/employment in/or represent any other Insurance related entity

If you do not hold directorship/employment in/or represent any other Insurance related entity then select ‘Yes’ else select ‘No’

I have filed FORM - 32 with ROC If you have filed FORM - 32 with ROC select ‘Yes’ else select ‘No’

Upload Documents

Board resolution Upload Board resolution of Person in charge of Management

Curriculum Vitae (CV) Upload Curriculum Vitae (CV) of Person in charge of Management


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Broker exam certificate Upload Broker exam certificate of Person in charge of Management

Attach scanned copy of affidavit Upload Attach scanned copy of affidavit of Person in charge of Management

2. Make the required changes in Person in charge of Management Details.





7. Click OK.


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Information on particulars of persons responsible for soliciting and procuring broking business

1. On Changes in Licensing screen, select Information on particulars of

persons responsible for soliciting and procuring broking business

Figure 91: Particulars of persons responsible for soliciting and procuring of Insurance or reinsurance business Screen


Field Description

Insurance Business

Name Enter Name of Person responsible for soliciting and procuring insurance business

Address Enter Address of Person responsible for soliciting and procuring insurance business

General Qualification Enter General Qualification of Person responsible for


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soliciting and procuring insurance business

Insurance Qualification Enter Insurance Qualification of Person responsible for soliciting and procuring insurance business

Insurance Experience Enter Insurance Experience of Person responsible for soliciting and procuring insurance business

Insurance Broker exam- year of passing

Enter year of passing of Insurance Broker exam of Person responsible for soliciting and procuring insurance business

Training received (direct/composite)

Enter training received by Person responsible for soliciting and procuring insurance business

Classes of Businesses handled

Enter Classes of businesses handled by Person responsible for soliciting and procuring insurance business

Designation and functions Enter Designation and Functions of Person responsible for soliciting and procuring insurance business


Enter Particulars of changes during the period of Person responsible for soliciting and procuring insurance business

Reinsurance Business

Name Enter Name of Person responsible for soliciting and procuring reinsurance business

Address Enter Address of Person responsible for soliciting and procuring reinsurance business

General Qualification Enter General Qualification of Person responsible for soliciting and procuring reinsurance business

Insurance Qualification Enter Insurance Qualification of Person responsible for soliciting and procuring reinsurance business

Insurance Experience Enter Insurance Experience of Person responsible for soliciting and procuring reinsurance business

Insurance Broker exam- year of passing

Enter year of passing of Insurance Broker exam of Person responsible for soliciting and procuring reinsurance business

Training received (direct/composite)

Enter training received by Person responsible for soliciting and procuring reinsurance business

Classes of Businesses handled

Enter Classes of businesses handled by Person responsible for soliciting and procuring reinsurance business

Designation and functions Enter Designation and Functions of Person responsible for soliciting and procuring reinsurance business


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Enter Particulars of changes during the period of Person responsible for soliciting and procuring reinsurance business

Upload Documents

Name of the persons Upload document with the Name of the persons responsible for soliciting and procuring broking business

Broker exam Passing Certificate number

Upload document with Broker exam Passing Certificate number of the persons responsible for soliciting and procuring broking business

2. Make the required changes in Insurance Business, Reinsurance Business.





7. Click OK.


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Standing arrangement with Insurance Company and hospitals

1. On Changes in Licensing screen, select Standing arrangement with Insurance Company and hospitals

Figure 92: Standing arrangements with other insurance brokers or service providers Screen


Field Description

Standing Arrangements Details

Name Enter Name of the insurance broker or service provider with whom you have a standing arrangement

Address Enter Address of the insurance broker or service provider with whom you have a standing arrangement

Particulars of Arrangement

Enter Particulars of Arrangement with the insurance broker or service provider with whom you have a standing arrangement

Any Agreement entered into with others

If the insurance broker or service provider with whom you have a standing arrangement has entered into an agreement with others then select ‘Yes’ else select ‘No’


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Whether service provider is/ are from group companies

If service provider is/ are from group companies select ‘Yes’ else select ‘No’

Basis of remuneration Enter basics of remuneration entered with the insurance broker or service provider with whom you have a standing arrangement

Amount paid during latest financial year

Enter amount paid during latest financial year to the insurance broker or service provider with whom you have a standing arrangement

2. Make the required changes in Standing Arrangements Details.





7. Click OK.


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Change in Name/Organization Structure

1. On Changes in Licensing screen, select Change in Name/Organization Structure

Figure 93: Change in Name/organization structure Screen


Field Description

Organization Details

Changed Organization Name Enter the changed name of the organization here

Upload Documents

ROC Documents Upload ROC Document here

Original License Enter Original license document here

Remarks Enter Remarks here

2. Make the required changes in Organization Details.



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7. Click OK.


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Information/Approval for investment funds

1. On Changes in Licensing screen, select Information/Approval for investment

of funds

Figure 94: Information/Approval for investment of funds Screen


Field Description

Upload Documents

Document Proof Upload document proof here


2. Upload the required documents and Enter Remarks.





Broker User Manual For Approval Category

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Transfer of shares, increase in paid up capital/change in holding company/conversion of company

1. On Changes in Licensing screen, select Transfer of shares, increase paid up

capital/change in holding company/conversion of company


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Figure 95: Capital Structure and Shareholder details Screen


Field Description

Capital Structure

Amount Enter Amount against each type of capital


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FDI Details

Shareholder Name Enter the Shareholder Name

Total equity share capital Enter Total Equity Share Capital

% Holding Enter % Holding

Shareholder Details

Category of Shareholder (Foreign Direct/ Foreign Indirect/Indian)

Enter the Category of Shareholder whether Foreign Direct or Foreign Indirect or Indian

Name of Shareholder Enter the Name of Shareholder

Address of Shareholder Enter the Address of Shareholder

Business or Profession Enter the Business or Profession of Shareholder














Initial Subscribers of MOA

Name of the Subscriber Enter Name of the Subscriber

Address of the subscriber Enter address of the subscriber

Business or Profession Enter Business or Profession of the subscriber






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Associate Company Wise

Name of the Associate Enter Name of the Associate

Address of the associate Enter address of the associate

Business or Profession Enter Business or Profession of the associate











Regulatory Body Enter the name of the regulatory body

2. Make the required changes in Capital Structure, FDI Details, Shareholder

Details, Initial Subscribers of MOA, and Associate Company Wise.






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Removal of lien on FD after making fresh FD

1. On Changes in Licensing screen, select Removal of lien on FD after making

fresh FD

Figure 96: Fixed Deposit Details Screen


Field Description

Fixed Deposit Details

Name of the Bank Enter Name of the bank in which broker has an FD

Address Enter Address of the bank in which broker has an FD

FD Number Enter FD Number

Amount held in deposit Enter Amount held in FD

FD Start Date Enter FD start date


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FD End Date Enter FD end date

FD Amount to Initial Capital Ratio Enter FD Amount to Initial Capital Ratio

Declarations

Confirmation that Lien is marked in favor of IRDA

If Lien is marked in favor of IRDA select ‘Yes’ else select ‘No’

Letter obtained from bank stating that the principal amount shall not be released without permission of authority

If Letter obtained from bank stating that the principal amount shall not be released without permission of authority select ‘Yes’ else select ‘No’

Whether FD is kept in scheduled bank?

If FD is kept in scheduled bank select ‘Yes’ else select ‘No’

Whether license period covered, if not then undertaking given to maintain FD throughout the license period?

If license period covered, if not then undertaking given to maintain FD throughout the license period then select ‘Yes’ else select ‘No’

Whether covered by regulation 2 (1) (J)(V)?

If by regulation 2 (1) (J)(V) is covered select ‘yes’ else select ‘No’

I am maintaining capital requirements as per Reg 10

If you are maintaining capital requirements as per Reg 10 select ‘Yes’ else select ‘No’

I have Fixed Deposit in bank as required per Reg 22

If you have Fixed Deposit in bank as required per Reg 22 select ‘Yes’ else select ‘No’

Capital will not be used for investing in equity, inter corporate deposits, loans, etc

If Capital will not be used for investing in equity, inter corporate deposits, loans, etc select ‘Yes’ else select ‘No’

Upload Documents

Capital will not be used for investing in equity, inter corporate deposits, loans, etc

Upload Capital will not be used for investing in equity, inter corporate deposits, loans, etc here

2. Make the required changes in Fixed Deposit Details.





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7. Click OK.


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Voluntary surrender of License

1. On Changes in Licensing screen, select Voluntary surrender of license

Figure 97: Voluntary surrender of license Screen


Field Description

Upload Documents

Board resolution Upload Board resolution document here

Confirmation of cessation of business Upload confirmation of cessation document here

Original License Upload copy of original license here

All existing contract details (to be served for 6 months or arrangements to be made for transfer of business)

Upload all existing contract detail documents here

Data of pending claims, grievances, and their status (as per format of FORM L)

Upload all data related to pending claims, grievances, and their status



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2. Upload the required documents. Enter Remarks.





7. Click OK.


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Approval for opening representative offices abroad

1. On Changes in Licensing screen, select Approval for opening representative

offices abroad

Figure 98: Approval for opening representative offices abroad Screen The fields on this screen are described in the following table.

Field Description

Upload Documents

Application to IRDA for issuing NOC for opening offices outside India

Upload the Application to IRDA for issuing NOC for opening offices outside India here







7. Click OK.


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Other Representations by brokers on matter of License

1. On Changes in Licensing screen, select Other representations by brokers on

matter of License

Figure 99: Other representations by brokers on matter of License Screen The fields on this screen are described in the following table.

Field Description

Upload Documents

Other representations by brokers for license

Upload the Other representations by brokers for license document here


2. Upload the required Documents and Enter Remarks.





7. Click OK.


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Miscellaneous

1. On Changes in Licensing screen, select Miscellaneous.

Figure 100: Miscellaneous Screen

The fields on this screen are described in the following table

Field Description

Upload Documents

Upload Document Upload any additional document here

Description Enter description of uploaded document here







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7. Click OK.

Broker User Manual Changes in licensing Category

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Changes in licensing Category

In order to obtain a new corporate Insurance Broker license with changed license category, you need to fill and submit an application form to IRDA along with the scanned copies of the supporting documents. When one of the directors submits the form, it must be signed by the other director also before it goes to IRDA for approval. IRDA then reviews and validates the application and then approves, rejects or closes it.

To apply for a Change in License Category:

1. Click 'Broker' tab. 2. ‘License Eligibility Criteria’ is displayed showing basic information (like broker

category, application guidelines and fees, etc) and a link to Broker regulations on IRDA website.

3. Click Licensing tab. 4. Select ‘Change in License Category’ option. 5. You will get a confirmation box saying "Please confirm that you have gone

through all information regarding broker regulations on IRDA site ( www.irdabap.gov.in)

6. If you click “Yes”, you will get Change in License Category Screen.

Figure 101: Changes in license Category Screen

7. If you click No, a new window is opened which navigates you to the IRDA

website where you can view the Broker regulations. 8. If you select the Change type as Addition Of Category or Up gradation Of

Category, then following sections will be displayed:



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Applicant Details




Other Information, if any

Upload Documents

Declaration

Undertaking

Print View

9. If you select the Change type as Degradation of Category or Deletion of Category then a screen to upload the necessary documents will open. Select the desired Category Applied for and Click Upload button to upload the required documents.

Figure 102: Deletion/ Degradation of Category Screen

The buttons available in the Change in License Category- Application Form are explained below.

Button Description


Click to attach digital signature to the application form


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Submit Click to submit the application form once you have selected

the declaration check box. (Submit gets enabled only after the

attachment of digital signature by the directors).

Cancel Click to stop the application processing and return to the home

page. This action will also clear all the information entered

without saving it.

Save as Draft Click to save all the data entered in the form. You can use this

option if you want to submit the form at a later time.

View Submitted Form

Click to view the submitted New License Application in read

only mode.



Data Entry Operator can only fill the forms and Director can submit the forms.

Broker User Manual Pay Annual Fees

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Pay Annual Fees

This form captures the details of annual fees to be paid with details such as payment amount, due date, etc.

Pay Annual Fees:

1. C lick Broker tab. 2. Select Licensing and Pay Annual Fees menu. Annual Fees Data Internal

Form is displayed. 3. Select the Year for which the Annual Fees needs to be submitted.

Figure 103: Pay Annual Fees Screen

The fields in the screen are described in the following table. All mandatory fields on the form are marked with an asterisk (*)

Field Description

Brokerage Income Enter Brokerage Income

Annual Fees to be Paid Enter Annual Fees to be Paid


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(based on Broker category)

Date of finalization of accounts

Enter Date of Finalization of accounts

Fee Payment Due Date

(c+15 days) or 30th Sept whichever is earlier

Enter Fee Payment Date

Whether certificate from an auditor is attached (Yes/No)

Select either "Yes" or "No". If “Yes”, Attach the Certificate from an Auditor document along with the application.

4. Select the declaration statement and Click Submit button. 5. Acknowledgement message will be displayed. Click OK. 6. Make Payment Screen will be displayed on click of "Make Payment" button.


7. Select the desired payment type and click Go to make payment through that

type. The different payment types are explained below:

Payment through DD - Select this payment type if you want to make your

payment through demand draft. You need to create the demand draft first and

then enter its details in this payment type.



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Field Description




Bank Name Enter the name of the bank from which you created the

demand draft.




Payment through NEFT/RTGS - Select this payment type if you want to

make your payment through NEFT/RTGS. For this payment type, you need to

make payment to IRDA through NEFT/RTGS and then enter the payment

details in this payment type.



Field Description

Acknowledgement No.

Enter the acknowledgement number received after

making the online payment.



Bank Name Enter the name of the bank through which you made

the payment.



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7. Enter the necessary details for the selected payment type and click Submit. 8. An Acknowledgement dialog box is displayed containing the Unique Reference

Number (URN). 9. Click OK.

The buttons available on the screen are explained in the following table.

Field Description

Fill Form Click to fill the Internal form

View Submitted Form Click to view the submitted forms in read only mode.

Edit Submitted Form Click to edit the submitted forms in the current bunch.

Submit Click to Submit the completed form


Print Click to get a printed document


Cancel Click to stop the application processing. This will clear any entered data.

Make Payment Click to go to Payment Screen

Broker User Manual View License Details

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View License Details

In View License Details, you can view your license number, broker name, categories in which you hold a license, effective date, expiry date, address, principle officers details, directors details and share holding pattern.

To view License Details screen:

1. Click Broker tab. 2. Click Licensing tab. 3. On the Licensing screen, click View License. The View License screen is

displayed. You can view your license details like license number, status, Broker Name, License Category, effective date, expiry date and address, Director’s Details, Shareholders Pattern.

Figure 107: View license Details Screen

All the information displayed is in read-only mode.

Broker User Manual View Application Status

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View Application Status

Whenever you submit any application to IRDA, it follows a defined process for application processing. Depending on the action taken by IRDA on the application, the status of the application keeps changing. Through View Application Status you can view the status of the License application.

To View Applications Status:

1. Click Broker tab. 2. Click View Application Status tab. The View Application Status screen is

displayed.

Figure 108: View Application Status Screen

3. The status of the application is displayed in Application Status column. The different statuses of the application are explained in the following table.

Status Stage

Application submitted Application submitted by you

Under process Application under process by IRDA.

Application approved Post approval of application by IRDA

Broker User Manual View Application Status

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Documents/ Information Awaited Additional information/documents required by IRDA on the submitted application

Application closed Post closure of application by IRDA

Application rejected Post rejection of application by IRDA

License Issued Post license issuance by IRDA

Approval Withdrawn Post withdraw of approval by IRDA from approved application

Broker User Manual Pending for Clarification

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Pending for Clarification

Once you have submitted an application, IRDA reviews the application. If additional information or documents are required after the submission of the application, IRDA notifies you through an email.

The screen displayed is shown as below:

Figure 109: URN for Pending for Clarification Screen

Clarification Email:

IRDA, during the license stage, may seek for additional documents for processing your request. In such a stage, you will receive a clarification Email from IRDA. After that, you will have to log into BAP portal to provide additional documents and comments.

Personal Presentation:

Once you have submitted your Application, IRDA can host a personal presentation before issuing a fresh new license/ Up gradation of License Category.

When IRDA seeks personal presentation from you, the notification can be viewed in the

Pending for Clarification table as well. Steps explained below are used for applying

again.


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To View Pending for Clarifications:

1. Click Broker tab. 2. Click Pending for Clarification tab. The Pending for Clarification screen is

displayed. 3. Click the Unique Reference Number (URN) to view the pending clarifications

for that application. The application screen is displayed. 4. In Remarks by Applicant field, provide additional information required by IRDA. 5. Attach additional documents using Upload file button, if required by IRDA.

Browse button is used to search the documents that are to be attached along with the application.

6. Click Submit. The User Confirmation Message dialog box will be displayed.

Figure 110: Pending for Clarification Screen

7. Click Yes. An Acknowledgement dialog box is displayed notifying that the clarification is submitted.


8. Click OK.


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Reminder Email:

IRDA sends you a reminder Email when it does not receive any response within seven business days of sending the clarification Email. IRDA sends you three reminder Emails after sending the clarification Email.

Closure of Application Email:

If IRDA does not receive any response from you after sending the reminder Email, it closes the application. On closure of the application, IRDA notifies you through Email.

Broker User Manual Returns

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Returns

As a licensed broker, you are expected to submit business data required by IRDA. Some data might be required by IRDA on a quarterly basis, some on a half yearly basis and some on a yearly basis. On the BAP portal, these forms to be submitted to IRDA are segregated under quarterly, half yearly and yearly menu tabs. The Data entry operator can only save the form in the draft mode and cannot submit the form. Submissions can only be done by the directors of the firm. Both the Directors need to sign before the disclosures can be submitted.

To Fill Returns:

1. Click Brokers tab. 2. Click Returns tab. 3. Select the appropriate time period for which you want to submit returns

(quarterly/ half yearly/ yearly). Returns screen will be displayed.

Figure 112: Returns Screen

The buttons available and their use, in the Returns screens above are explained below in the table:

Buttons Description

Fill Forms Click to fill forms for the particular periods

Submit Forms Click to submit all forms under the current bunch.

View Submitted Click to view the submitted forms in read only mode.


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Buttons Description

Form

Edit Submitted Forms

Click to edit the submitted forms in the current bunch.

Save Click to Save the filled form

Cancel Click to stop the application processing. This will clear any entered data.



Upload Form Broker will be able to upload monthly figures in the prescribed .csv format

Download Form

Form will be exported in .csv format (with built in validations), and can be saved locally

The screen also displays 3 legends with different colors representing the status of the Returns. The colors depicted are as below:

Legends Description

Green Completely filled /saved forms have green color

As below:

Red Blank Forms have Red color

As below:

Yellow Partially filled forms have yellow color

As below:

For Filling Returns:

Fill all the Forms under a particular Return Category (Quarterly, Annual, and Half Yearly) and then submit together by clicking "Submit Forms" button, as the forms must be submitted together.


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For Submitting Returns: Click Submit Forms button to submit all the forms under the current bunch.

Attach Digital Signature button is displayed; you can attach the digital signature by clicking on Attach Digital Signature button.

Figure 113: Submit Forms Returns Screen

Both the directors must attach digital signature before submitting the forms.

On submitting the entire bunch of a particular Return category (Quarterly, Yearly, Half Yearly), URN will be generated.

Note down the URN for future references.


Once the returns are submitted, you cannot edit the details and the return bunch is locked. To unlock the forms/ returns, Contact IRDA and request for unlocking the desired returns

Broker User Manual Quarterly Returns

Version 9.0 156

Quarterly Returns

To fill Quarterly returns

1. Click Brokers. 2. Click Returns 3. Click Quarterly. Select the Quarter and Year. 4. Click Fill Forms Button. The status of the form (Completed form, In progress

form or Blank form) is displayed and a link is provided to the form.

Figure 115: Quarterly Returns Screen

5. Click on the respective form whose return is to be filled.


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Business Data for Brokers

This form captures broker wise and client wise business data for brokers.

To fill Business Data for Brokers


2. Click Returns tab. 3. Click Quarterly tab. Select the Quarter & year for which the returns need to be

filled. 4. Click Fill Forms.

5. Click Business Data for Brokers link, the respective return form is displayed.


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Figure 116: Business Data for Brokers Screen

The fields on the screen are explained in the following table

Field Description

Insurer Wise Business Figures – Non – Life

Name of Insurers

Enter Name of Insurers


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Field Description

No of policies

Enter No of Policies for Marine Hull, Marine Cargo, Motor, fire, Engineering, health, Liability, Misc

Premium Enter Premium for Marine Hull, Marine Cargo, Motor, fire, Engineering, health, Liability, Misc

Total No of Policies

Enter total number of policies

Total Premium

Enter Total Premium

Insurer wise premium figures –Life

Name of Insurers


No of policies

Enter No of Policies for Life, Health, Pension , Annuity for Linked and Non Linked policies

Premium Enter Premium for Life, Health, Pension , Annuity for Linked and Non Linked policies



Total Premium

Enter Total Premium

Insurer wise Premium – Life –(For Riders)

Name of Insurers


No of policies

Enter No of Policies for Health + Sickness, Accident + Disability, Term, Other (PWB)for Linked and Non Linked policies

Premium Enter Premium for Health + Sickness, Accident + Disability, Term, Other (PWB)for Linked and Non Linked policies for Linked and Non Linked policies



Total Premium

Enter Total Premium

Client Wise Business Data (Based on Premium serviced) - Top 10 Clients (Non-Life)

Client Name Enter Name of the Client

No of Enter No of Policies for Marine Hull, Marine Cargo, Motor, fire,


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Field Description

policies Engineering, health, Liability, Misc

Premium Enter Premium for Marine Hull, Marine Cargo, Motor, fire, Engineering, health, Liability, Misc



Total Premium

Enter Total Premium

Client Wise Business Data (Based on Premium serviced) - Top 10 Clients (Life)


No of policies

Enter No of Policies for Life, Health, Pension , Annuity for Linked and Non Linked policies

Premium Enter Premium for Life, Health, Pension , Annuity for Linked and Non Linked policies



Total Premium

Enter Total Premium

Client Wise Business Data (Based on Premium serviced) - Top 10 Clients (Life - Riders)


No of policies

Enter No of Policies for Health + Sickness, Accident + Disability, Term, Other (PWB)for Linked and Non Linked policies for Linked and Non Linked policies

Premium Enter Premium for Health + Sickness, Accident + Disability, Term, Other (PWB)for Linked and Non Linked policies for Linked and Non Linked policies



Total Premium

Enter Total Premium

6. Fill in the entire form and click Save. The Acknowledgement message box is displayed


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7. To download the template of the form click Download form. A template Form 10.csv will be opened in a.csv format. Fill in the template and save the file on your local machine.

8. Click Upload Form .Browse the saved file and click Ok. Your Business Data details will be uploaded.

9. Click Save.


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Business Data for Insurance Brokers (Life)

This form captures new business data for life Insurers. The form captures information for Individual and Group Business

To fill Business Data for Insurance Brokers (Life Insurers)




5. Click Business Data for Insurance Brokers (Life) link, the respective return

form is displayed.

Figure 118: Business Data for Insurance Brokers (Life) Screen



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Field Description

Life Business

No of policies Enter No of policies for Individual Business

Premium Amount Enter Premium amount for Individual Business

Brokerage Income Enter brokerage Income for Individual Business

No Of Lives Covered Enter No of Lives covered in Group Business

Premium Amount Enter Premium amount for Group Business

Brokerage Income Enter brokerage Income for Group Business



7. To download the template of the form click Download form. A template Form.10.1.csv will be opened in a csv format. Fill in the template and save the file on your local machine.


9. Click Save.


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Business Data for Insurance Brokers (Non Life)

This form captures new business data for Non Life Insurers

To fill Business Data for Brokers (Non Life Insurers)




5. Click Business Data for Brokers (Non Life) link, the respective return form is

displayed.

Figure 120: Business Data for Non Life Screen


Field Description

Non Life Business

No of policies Enter No of policies for Motor, Health, Engineering, Marine Cargo, Misc, Liability, Fire, Marine Hull


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Premium Amount Enter Premium for Motor, Health, Engineering, Marine Cargo, Misc, Liability, Fire, Marine Hull

Brokerage Income Enter brokerage Income for Motor, Health, Engineering, Marine Cargo, Misc, Liability, Fire, Marine Hull



7. To download the template of the form click Download form. A template Form.10.2.csv will be opened in a csv format. Fill in the template and save the file on your local machine.


9. Click Save.


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Claims Data for Insurance Brokers

This form captures the details of the claims for a broker.

To fill Claims Data for Insurance Brokers




5. Click Claims Data for Insurance Brokers link; the respective return form is

displayed.


Version 9.0 167

Figure 122: Claims Data for Insurance Broker Screen


Field Description

Claims Details

Please state every event that has come to the company’s notice where the company may become liable to pay damages or compensation to

Enter every event that has come to the company’s notice where the company may become liable to pay damages or compensation to clients,


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Field Description

clients, whether covered by the professional indemnity policy or not, giving the following information

whether covered by the professional indemnity policy or not, giving the following information

Date of period of occurrence Enter Date of period of occurrence

Name of client concerned Enter Name of client concerned

Nature of event likely to give rise to a claim

Enter Nature of event likely to give rise to a claim

Brief description of basis of claim Enter Brief description of basis of claim

Intimated or estimated amount of claim

Enter Intimated or estimated amount of claim

Whether covered by professional indeminty policy

If Whether event is covered by professional indeminty policy enter ‘Yes’ else enter ‘ No’

Amount provided by the broker in its books for the claim

Enter Amount provided by the broker in its books for the claim

Present status of claim Select status of Claim to be either ‘Open’ or ‘Closed’

Claims Movement

Number of Claims Enter Number of Claims

Claims Amount Enter Claims Amount

Ageing of pending claims

Number of Claims Enter Number of Claims

Claims Amount Enter Claims Amount

Major Claims Pending - Above 1 Crore

Name of the client Enter Name of the Client

Policy Number Enter Policy Number

Claim Amount Enter Claims amount

Date of Loss Enter Date of Loss


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7. To download the template of the form click Download form. A template Form12.csv will be opened in a csv format. Fill in the template and save the file on your local machine.

8. Click Upload Form .Browse the saved file and click Ok. Your Claims Data details will be uploaded.

9. Click Save.

Broker User Manual Annual Returns

Version 9.0 170

Annual Returns

To fill Annual returns

1. Click Brokers 2. Click Returns 3. Click Annual Returns tab. 4. Select Year value from the drop down menu of Year. 5. Click Fill Form buttons. . The status of the form (Completed form, In progress


Figure 124: Annual Returns Screen



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Reinsurance Balances Outstanding

This form will capture information regarding your reinsurance balances outstanding.

To fill Reinsurance Balances Outstanding


2. Click Returns tab. 3. Click Annual returns tab. Select the year for which the returns need to be filled. 4. Click Fill Forms.

5. Click Reinsurance Balances Outstanding link, the respective return form is

displayed.

Figure 125: Reinsurance Balance Outstanding Screen


Field Description

Amount outstanding for the period of

Enter amount outstanding for the period of 0-3 months, 3-6 months, 6-12 months, Over 12 Months and Total amount outstanding



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7. To download the template of the form click Download form. A template Form13.csv will be opened in a .csv format. Fill in the template and save the file on your local machine.

8. Click Upload Form .Browse the saved file and click Ok. Your Reinsurance Balance Outstanding details will be uploaded.

9. Click Save.


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Cash Flow Statement for Insurance Brokers

This form will capture information regarding cash flows of your company.

To fill Cash Flow Statement for Insurance Brokers


2. Click Returns tab. 3. Click Annual returns tab. Select the year for which the returns need to be filled. 4. Click Fill Forms.

5. Click Cash flow Statement for Insurance Brokers link, the respective return

form is displayed.


Version 9.0 174

Figure 127: Cash Flow Statement Screen


Field Description

Cash Flow from Operating Activities

Brokerage Receipts Enter Brokerage Receipts

Reinsurance Receipts Enter Reinsurance Receipts

Other Receipts/ Payments Enter Other Receipts/ Payments

Realizations from Sundry Debitors Enter Realizations from Sundry Debitors


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Field Description

Payment towards expenses Enter Payment towards expenses

Payments of tax deducted at source Enter Payments of tax deductions at source

Payments to Sundry Creditors Enter Payments to Sundry Creditors

Payments of other advances Enter Payments of other advances

Cash Flow from Investing Activities

Purchase of Investments Enter Purchase of Investments

Sale of Investments Enter Sale of Investments

Purchase of Fixed Assets Enter Purchase of Fixed Assets

Sale of Fixed Assets Enter Sale of Fixed Assets

Income received on investments Enter Income received on investments

Expenses relating to investments Enter Expenses relating to investments

Cash Flow from investing activities

Proceeds from issue of share capital Enter Proceeds from issue of share capital

Proceeds from borrowing Enter Proceeds from borrowing

Repayments from borrowings Enter Repayments from borrowings

Interests/ dividends paid Enter Interests/ dividends paid

Cash & Bank Balance (Beginning of Financial Year)

Cash in Hand Enter Cash in Hand

Balance in current accounts Enter Balance in current accounts

Cash & Bank balance (End of Financial Year)

Cash in Hand Enter Cash in Hand

Balance in current accounts Enter Balance in current accounts



Version 9.0 176


7. To download the template of the form click Download form. A template Broker_Annl_Form_4_1.csv will be opened in a csv format. Fill in the template and save the file on your local machine.

8. Click Upload Form .Browse the saved file and click Ok. Your Cash Flow Statement details will be uploaded.

9. Click Save.


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Security screening proceedings for reinsurance broking

This form captures the details of the security screening proceedings for reinsurance broking.

To fill Security screening proceedings for reinsurance broking


2. Click Returns tab. 3. Click Annual Returns tab. Select the year for which the returns need to be filled. 4. Click Fill Forms.

5. Click Security screening proceeding for reinsurance broking link, the

respective return form is displayed.

Figure 129: Security screening proceedings Screen


Field Description

Please state the security screening procedures adopted in the brokers office and the person responsible to approve the securities to be used by the broker, and in particular, stating

Enter the security screening procedures adopted in your office and the person responsible to approve the securities to be used by you, and in particular, stating


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Field Description

Whether the broker obtains and reviews the annual accounts of reinsurers used by it, ( Yes / No)

If you obtain and review the annual accounts of reinsurers enter ‘Yes’ else enter ‘No’

( If answered 'Yes' for previous column)

Who within the organization is responsible for this function?

Enter who within your organization is responsible for obtaining and reviewing the annual accounts of reinsurers

Procedure followed by the broker to keep abreast of developments in the international markets

Enter Procedure followed by you to keep abreast of developments in the international markets

6. Fill in the entire form and click Save. The Acknowledgement message box is

displayed



8. Click Upload Form .Browse the saved file and click Ok. Your Security screening proceedings details will be uploaded.

9. Click Save.


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Financial Statement of each insurance broker-Profit and Loss Statement

This form is used to capture the profit and loss statement details of your business.

To fill Profit and Loss Statement


2. Click Returns tab. 3. Click Annual Returns tab Select the year for which the returns need to be filled. 4. Click Fill Forms.

5. Click Financial Statement of each insurance broker-Profit and Loss

Statement link, the respective return form is displayed.


Version 9.0 180

Figure 131: Profit and Loss Statement Screen


Field Description

Income

Brokerage Enter Brokerage amount

Other Business Income Enter Other Business Income

Particulars of Income Enter Particulars of Income


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Amount received during the year

Enter Amount received during the year

Basis of remuneration Enter Basis of remuneration

Explanatory Note Enter Explanatory Note

Investment Income Enter Investment Income

Other miscellaneous income Enter Other miscellaneous income

Particulars of Income Enter Particulars of Income


Enter Amount received during the year

Explanatory Note Enter Explanatory Note

Expenses

Staff Salaries and Expenses Enter Staff Salaries and Expenses

Directors Fees and Other Remuneration

Enter Directors Fees and Other Remuneration

Payments for Business Procurement

Enter Payments for Business Procurement

Name and relationship to the payee

Enter Name and relationship to the payee

Amount paid Enter Amount paid

Basis of Payment Enter Basis of Payment

Rents, Rates and Taxes Enter Rents, Rates and Taxes

Maintenance and Repairs Enter Maintenance and Repairs

Printing and Stationary Enter Printing and Stationary

Communication Expenses Enter Communication Expenses

Legal and Professional Expenses

Enter Legal and Professional Expenses

Advertisement and Publicity Enter Advertisement and Publicity

Auditors' Fees and Expenses Enter Auditors' Fees and Expenses

Interest and Bank Charges Enter Interest and Bank Charges


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Depreciation Enter Depreciation

Other Expenses Enter Other Expenses

Payments for business procurement

Enter Payments for business procurement

Profit before tax Enter Profit before tax

Loss before tax Enter Loss before tax

Provision for taxation

Current Tax Enter Current Tax

Deferred Tax Enter Deferred Tax

Appropriations

Balance at the Beginning of the Year

Enter Balance at the Beginning of the Year

Interim Dividends Paid During the Year

Enter Interim Dividends Paid During the Year

Proposed Final Dividend Enter Proposed Final Dividend

Dividend Distribution on Tax Enter Dividend Distribution on Tax

Transfer to Reserves/Other Accounts

Enter Transfer to Reserves/Other Accounts



7. To download the template of the form click Download form. A template Broker_Annl_Form_3.csv will be opened in a .csv format. Fill in the template and save the file on your local machine.


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8. Click Upload Form .Browse the saved file and click Ok. Your Financial Statement of each insurance broker-Profit and Loss Statement details will be uploaded.

9. Click Save.


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Balance Sheet of Insurance brokers

This form is used to capture your balance sheet details.

To fill Balance Sheet of Insurance Brokers



5. Click Balance Sheet of Insurance Brokers link, the respective return form is

displayed.


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Figure 133: Balance Sheet Screen


Field Description

Sources of fund

Share Capital

Authorized Enter Authorized Share Capital

Subscribed Enter Subscribed Share Capital


Version 9.0 186

Called Up Enter Called Up Share Capital

(Less Calls unpaid) Enter (Less Calls unpaid) Share Capital

(Add shares forfeited) Enter (Add shares forfeited) Share Capital

(Less par values of share bought back)

Enter (Less par values of share bought back) Share Capital

Less Preliminary Expenses Enter Less Preliminary Expenses Share Capital

Reserves and Surplus Enter Reserves and Surplus Share Capital

Current liabilities and provisions

Enter Current liabilities and provisions Share Capital

Application of funds

Regulation 22 deposit Enter Regulation 22 deposit

Government securities Enter Government securities

Other approved securities Enter Other approved securities

Shares Enter Shares

Debentures Enter Debentures

Bank Deposits Enter Bank Deposits

Others Enter Others

Loans Enter Loans

Name of institution/ individual Enter Name of institution/ individual

Purpose of Loan Enter Purpose of Loan

Amount of Loan Enter Amount of Loan

Amount outstanding as on 31st March

Enter Amount outstanding as on 31st March

To shareholders, directors, officers

Enter To shareholders, directors, officers

To Other- secured loan Enter To Other- secured loan

To Other unsecured Enter To Other unsecured

Fixed Assets Enter Fixed Assets


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Current Assets Enter Current Assets

Debit balance in Profit and Loss

Enter Debit balance in Profit and Loss

Contingent liabilities Enter Contingent liabilities

Details of Contingent Liabilities Enter Details of Contingent Liabilities

Major Remarks/Observation of Auditor

Enter Major Remarks/Observation of Auditor



7. To download the template of the form click Download form. A template Broker_Annl_Form_4.csv will be opened in a .csv format. Fill in the template and save the file on your local machine.

8. Click Upload Form .Browse the saved file and click Ok. Your Balance Sheet of Insurance Brokers details will be uploaded.

9. Click Save.


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Audit Arrangement for Insurance Broker

This form will capture your audit arrangement details.

To fill Audit Arrangement for Insurance Broker



5. Click Audit Arrangement for Insurance Broker link, the respective return form

is displayed.

Figure 135: Audit Arrangements Screen


Field Description

Audit Arrangements for a broker

Name of the Statutory Auditor Enter Name of the Statutory Auditor

Address of the Statutory Auditor

Enter Address of the Statutory Auditor

Name of partner responsible for audit of the broker

Enter Name of partner responsible for audit of the broker

Name of Internal Auditor (refer Regulation 27)

Enter Name of Internal Auditor


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Address of Internal Auditor Enter Address of Internal Auditor

Qualifications Enter Qualifications of Internal Auditor

Experience Enter Experience of Internal Auditor

If an employee, to whom does the internal auditor report?

Enter the Name of the concerned Internal Auditor

Particulars of changes, if any, during the reporting period

Enter the particulars of changes occurred during the reporting period (if any)




8. Click Upload Form .Browse the saved file and click Ok. Your Audit Arrangement for Insurance Broker details will be uploaded.

9. Click Save.


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Insurance Bank Accounts of Insurance Brokers

This form will capture details regarding your bank accounts

To fill Insurance Bank Accounts of Insurance Broker



5. Click Insurance Bank Accounts of Insurance Broker link, the respective return

form is displayed.

Figure 137: Insurance Bank Accounts Screen


Field Description

Insurance Bank Accounts of Brokers

Name of Bank Enter Name of Bank

Address of bank Enter Address of Bank

Account Type Enter Account Type

Account Number Enter Account Number

Purpose of Account Enter Purpose of Account


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Whether Reg 23(2) ( C ) complied with

(Yes/No)

If Reg 23(2) ( C ) complied with select ‘Yes’ else select ‘No’

Balance in account as at end of reporting year

Enter the Balance amount in account at end of reporting year




8. Click Upload Form .Browse the saved file and click Ok. Your Insurance Bank Accounts details will be uploaded.

9. Click Save.


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Details of Group Companies of a Insurance Broker

This form will capture the standing arrangements list of all group companies attached with you.

To fill Details of Group Companies of a Insurance Broker



5. Click Details of Group Companies of a Insurance Broker link, the respective

return form is displayed.

Figure 139: Details of Group companies for an Insurance Broker Screen


Field Description

Details of group Companies for a Broker

Name of Concern Enter Name of Company attached with the broker

Shareholders Unique ID

(Indian : PAN No) (Foreign : Tax ID)

Enter Shareholders Unique ID of company attached with the broker


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Address Enter Address of the company attached with the broker

Type of activity handled Enter Type of activity handled by company attached with the broker

Nature of Interest of Promoter/ Director

Enter Nature of Interest of Promoter/ Director of company attached with the broker

Nature Of interest with applicant company

Enter Nature Of interest with applicant company of company attached with the broker




8. Click Upload Form .Browse the saved file and click Ok. Your Details of Group Companies of a Insurance Broker details will be uploaded.

9. Click Save.


Version 9.0 194

Spread of Business during the Year Ending

This form captures the details related to the name of the client and premium on direct insurance booked for the client and premium on reinsurance broking in respect of the client’s business.

To fill Spread of Business during the Year Ending Returns:


2. Click Returns tab. 3. Click Annual returns tab. Select the year and Broker for which the returns need

to be filled. 4. Click Fill Forms.

5. Click Spread of Business during the Year Ending link, the respective return

form is displayed.

Figure 141: Spread of Business during the Year Ending Return Screen


Version 9.0 195


Field Description

Name of the Client Enter Name of the Client

Premium on Direct Insurance Booked for the Client

Enter the Premium values for Fire, Marine and Miscellaneous

Premium On Reinsurance Broking In Respect Of That Client's Business

Enter the Premium values for Fire, Marine and Miscellaneous



7. To download the template of the form click Download form. A template form H.csv will be opened in a .csv format. Fill in the template and save the file on your local machine.

8. Click Upload Form .Browse the saved file and click Ok. Your Spread of Business during the Year Ending details will be uploaded.

9. Click Save.


Version 9.0 196

Professional Indemnity Insurance In Force As At

This form captures the details related to the name of the insurer providing PI cover, policy number, period of insurance and the sum insured To fill Professional Indemnity Insurance In Force As At returns:


2. Click Returns tab. 3. Click Annual returns tab. Select the year and Broker for which the returns need

to be filled. 4. Click Fill Forms

5. Click Professional Indemnity Insurance In Force As At link, the respective

return form is displayed.

Figure 143: Professional Indemnity Insurance In Force As At Returns Screen


Field Description

Name of Insurer providing PI Cover

Enter Name of Insurer providing PI Cover

Policy No/Endorsement No. Enter the Policy/ Endorsement No

Period of Insurance: (From Enter ‘From’ date of Period of Insurance


Version 9.0 197

Date)

Period of Insurance: (To Date)

Enter ‘To’ date of Period of Insurance

Sums Insured: Per Event

(AOA)

Enter Sums Insured (AOA)

Sums Insured: In Aggregate for the Policy Period

(AOY)

Enter Sums Insured (AOY)

Basis of Indemnity

(On claims made basis or on loss occurring basis)

Enter the basis of Indemnity

Deductible Enter the deductible value

Premium for the cover Enter the Premium for the cover

Whether requirements for the Regulation 24, sub-regulation (4) and (5) are complied with?

(Yes/No)

Select either ‘Yes’ or ‘No ‘

Please State The Relevant Percentages

Enter the Relevant Percentages



7. To download the template of the form click Download form. A template Formk.csv will be opened in a .csv format. Fill in the template and save the file on your local machine.

8. Click Upload Form .Browse the saved file and click Ok. Your Professional Indemnity Insurance In Force As At details will be uploaded.

9. Click Save.

Broker User Manual Half Yearly

Version 9.0 198

Half Yearly

To fill Half Yearly returns

1. Login into the system as a director 2. Click Brokers 3. Click Returns 4. Click Half Yearly Returns Tab. 5. Select Six Months Value & Year from the drop down menu. 6. Click Fill Forms button. The status of the form (Completed form, In progress


Figure 145: Half Yearly Returns Screen



Version 9.0 199

Financial Data for Insurance Brokers

This form is used to capture financial data of your firm

To fill Details of Outstanding Claims returns


2. Click Returns tab. 3. Click Half Yearly tab Select the Six Months and year for which the returns need

to be filled. 4. Click Fill Forms.

5. Click Financial Data for Insurance Brokers link, the respective return form is

displayed.


Version 9.0 200

Figure 146: Half Yearly Returns Screen


Field Description

Amount Enter Amount for the respective Income type


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Amount for current year (as per selection)

Enter Amount for current year as per respective Investment Type

Remarks from statutory Auditor (if any)

Enter Remarks from statutory Auditor as per respective Investment Type

Is there any other information relevant to the financial data of broking firm over an above captured in above forms to be declared explicitly?

Select either Yes or No to provide more information by attaching files.

Select File Attach any additional documents here

Attachment Details Enter details of the attached documents here.




8. Click Upload Form .Browse the saved file and click Ok. Your Financial Data for Insurance Brokers details will be uploaded.

9. Click Save.

Broker User manual Assistance on Filling Returns

Version 9.0 202

Assistance on Filling Returns

Form S- Business Data for Insurance Brokers:

The below table provides guidelines for Data Submission of Form S returns (Quarterly Returns).

Field Details Data Type Field Object Values

Year Integer

Disabled Text box

Year would be auto populated.

Quarter

Integer

Disabled Text box

Quarter would be auto populated.

Insurance Broker Varchar

Disabled Text box

Broker Name would be auto populated

Submitted On Date

Disabled Text box

Submitted on would be auto populated after form has been submitted

Submission Due Date

Date

Disabled Text box

Submission due date would be auto populated as the form is opened

Insurer Wise Business Figures- Non Life

Name of Insurers

Integer

Combo Box

The dropdown should have Insurer names Licensed by IRDA.

No of policies (For Marine Hull,

Marine Cargo,

Integer

Text Box

The value entered here would be the No. of policies

Broker User Manual Assistance on Filling Returns

Version 9.0 203


Motor, fire, Engineering, health, Liability, Misc.)_

Premium (For Marine Hull,

Marine Cargo, Motor, fire, Engineering, health, Liability, Misc. )

Decimal

Text Box

The value entered here would be the premium amount


Integer

Disabled Text Box

Derived field by system, by adding all the number of policies in the row.

Total Premium

Decimal

Disabled Text Box

Derived field by system, by adding all the premium amounts in the row.

Insurerwise Premium Figures-Life

Name of Insurers

Integer

Combo Box

The dropdown should have Insurer names Licensed by IRDA.


Marine Cargo, Motor, fire,

Integer

Text Box

The value entered here would be the No. of policies in integer


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Engineering, health, Liability, Misc.)

Premium (For Marine Hull, Marine Cargo, Motor, fire, Engineering, health, Liability, Misc. )

Decimal

Text Box

The value entered here would be the premium amount


Integer

Disabled Text Box


Total Premium

Decimal

Disabled Text Box


Insurerwise Premium –Life- (For Riders)

Name of Insurers

Integer

Combo Box

The dropdown should have Insurer names licensed by IRDA.

No of policies (For Health +

Sickness, Accident + Disability,

Integer

Text Box

The value entered here would be the No. of policies


Version 9.0 205


Term, Other (PWB)for Linked and Non Linked policies

)

Premium (For Health +

Sickness, Accident + Disability, Term, Other (PWB)for Linked and Non Linked policies

)

Decimal

Text Box

The value entered here would be the premium amount.


Integer

Text Box


Total Premium

Decimal

Text Box


Client Wise Business Data (Based on Premium serviced) - Top 10 Clients (Non-Life)

Client Name

Varchar

Text Box

The value entered here would be the Client Name


Integer

Text Box

The value entered here


Version 9.0 206


Marine Cargo, Motor, fire, Engineering, health, Liability, Misc. )

would be the No. of policies.


Decimal

Text Box



Integer

Disabled Text Box


Total Premium

Decimal

Disabled Text Box


Client Wise Business Data (Based on Premium serviced) - Top 10 Clients

(Life - Riders)

Client Name

Varchar

Text Box

The value entered here would be the Client Name


Marine

Integer

Text Box

The value entered here would be the


Version 9.0 207


Cargo, Motor, fire, Engineering, health, Liability, Misc. )

No. of policies.


Decimal

Text Box



Integer

Disabled Text Box


Total Premium

Decimal

Disabled Text Box


Form S- Business Date for Insurance Brokers (Life Insurers):

The below table provides guidelines for Data Submission of Form S (Life) Returns (Quarterly Returns).


Year Integer

Disabled Text box



Version 9.0 208


Quarter

Integer

Disabled Text box



Disabled Text box


Submitted On Date

Disabled Text box


Submission Due Date

Date

Disabled Text box


Individual Business (For: Linked - Life, Health, Pension, Annuity, Non linked - Life, Health, Pension, Annuity, Riders- Health and sickness , accident and disability , term and others PWB)

No. of policies

Integer

Text Box

Enter the No. of policies.

Premium Amount

Decimal

Text Box

Enter the Premium amount.

Brokerage Income

Decimal

Text Box

Enter the Brokerage Income.

Brokerage %

Decimal

Disabled Text Box

Derived field by system, by calculating the brokerage percentage.


Version 9.0 209


Group Business (For: Linked- Life, Health, Pension, Annuity, Non linked- Life, Health, Pension, Annuity, Riders- Life, Health, Pension, Annuity)

No. of policies

Integer

Text Box


Premium Amount

Decimal

Text Box


Brokerage Income

Decimal

Text Box


Brokerage %

Decimal

Disabled Text Box

Derived field by system, by calculating the brokerage percentage.

Form S- Business Date for Insurance Brokers (Non Life Insurers):

The below table provides guidelines for Data Submission of Form S (Non Life) Returns (Quarterly Returns).


Year Integer

Disabled Text box


Quarter

Integer

Disabled Text box



Disabled Text box



Version 9.0 210


Submitted On

Date

Disabled Text box


Submission Due Date

Date

Disabled Text box


Line Of Business( Motor, Health, Engineering ,Marine Cargo, Misc, Liability, Fire, Marine Hull)

No. of policies

Integer

Text Box


Premium Amount

Decimal

Text Box


Brokerage Income

Decimal

Text Box


Brokerage %

Decimal

Disabled Text Box

Derived by system, by calculating the brokerage percentage.

Form L-Claims Data for Insurance Broker:

The below table provides guidelines for Data Submission of Form S (Life) Returns (Quarterly Returns).



Version 9.0 211


Year Integer

Disabled Text box


Quarter

Integer

Disabled Text box



Disabled Text box


Submitted On Date

Disabled Text box


Submission Due Date Date

Disabled Text box


Claims Details

Please state every event that has come to the company’s notice where the company may become liable to pay damages or compensation to clients, whether covered by the professional indemnity policy or not, giving the following information

Varchar

Text box

Enter the event as required by the field.

Date of period of occurrence.

Date

Date Type

Select the required date from the dropdown.


Version 9.0 212


Name of client concerned

VarChar

Text box

Enter the name of client.

Nature of event likely to give rise to a claim

VarChar

Text box

Enter the nature of event.

Brief description of basis of claim

VarChar

Text box

Enter the brief description.

Whether covered by professional indemnity policy:

Boolean

Combo box

If covered by professional indemnity policy then enter ‘Yes’ else enter ‘No’.

Amount provided by the broker in its books for the claim

Decimal

Text box

Enter the amount provided by the broker

Present status of claim

VarChar

Combo Box

The status can be either selected as "open" or "closed".

Aging of Pending Claims

Pending for up to 1 month(number of claims)

Integer

Text box

Enter the number of claims, pending for up to 1 month.

Pending for up to 1 month(claims amount)

Decimal

Text box

Enter the claims amount, pending for up to 1 month.

Pending for greater than 1 month and up to 3 months(number of claims)

Integer

Text box

Enter the number of claims, pending for greater than 1 month and up to 3 months.


Version 9.0 213


Pending for greater than 1 month and up to 3 months(claims amount)

Decimal

Text box

Enter the claims amount, pending for greater than 1 month and up to 3 months.

Pending for greater than 3 months and up to 6 months(number of claims)

Integer

Text box

Enter the number of claims, pending for greater than 3 months and up to 6 months.

Pending for greater than 3 months and up to 6 months(claims amount)

Decimal

Text box

Enter the claims amount, pending for greater than 3 months and up to 6 months.

Pending for greater than 6 months and up to 12 months(number of claims)

Integer

Text box

Enter the number of claims, pending for greater than 6 months and up to 12 months

Pending for greater than 6 months and up to 12 months(claims amount)

Decimal

Text box

Enter the claims amount, pending for greater than 6 months and up to 12 months

Pending for more than 1 year(number of claims)

Integer

Text box

Enter the number of claims, pending for more than 1 year.

Pending for more than 1 year(claims amount)

Decimal

Text box

Enter the claims amount, pending for more than 1 year.

Total Pending (number of claims)

Integer

Disabled Text box

The total pending number of claims will be derived and auto populated by the system.


Version 9.0 214


Total Pending(claims amount)

Decimal

Disabled Text box

The total pending claims amount will be derived and auto populated by the system.

Aging of Settled Claims

Settled for up to 1 month(number of claims)

Integer

Text box Enter the number of claims, Settled for up to 1 month.

Settled for up to 1 month(claims amount)

Decimal

Text box Enter the claims amount, Settled for up to 1 month.

Settled for greater than 1 month and up to 3 months(number of claims)

Integer

Text box Enter the number of claims, Settled for greater than 1 month and up to 3 months.

Settled for greater than 1 month and up to 3 months(claims amount)

Decimal

Text box Enter the claims amount, Settled for greater than 1 month and up to 3 months.

Settled for greater than 3 months and up to 6 months(number of claims)

Integer

Text box

Enter the number of claims, Settled for greater than 3 months and up to 6 months.

Settled for greater than 3 months and up to 6 months(claims amount)

Decimal

Text box

Enter the claims amount, Settled for greater than 3 months and up to 6 months.

Settled for greater than 6 months and up to 12 months(number of claims)

Integer

Text box

Enter the number of claims, Settled for greater than 6 months and up to 12


Version 9.0 215


months.

Settled for greater than 6 months and up to 12 months(claims amount)

Decimal

Text box

Enter the claims amount, Settled for greater than 6 months and up to 12 months

Settled for more than 1 years (number of claims)

Integer

Text box

Enter the number of claims, Settled for more than 1 year.

Settled for more than 1 years(claims amount)

Decimal

Text box

Enter the claims amount, Settled for more than 1 year.

Total Settled(number of claims)

Integer

Disabled Text box

The total settled number of claims will be derived and auto populated by the system.

Total Settled(claims amount)

Decimal

Disabled Text box

The total settled claims amount will be derived and auto populated by the system.

Major Claims Pending - Above 1 Crore

Name of Client

VarChar

Text box

Enter the Name of Client.

Policy No

Integer

Text box

Enter the Policy No.

Claim Amount

Decimal

Text Box Enter the Claims Amount

Date of loss

Date

Date Type

Select the required date from the dropdown.


Version 9.0 216

Form M- Reinsurance Balances Outstanding:

The below table provides guidelines for Data Submission of Form M Returns (Annual Returns).


Year Integer

Disabled Text Box

Year would be auto populated

Broker Varchar

Disabled Text Box


Submitted On Date

Disabled Text Box


Submission Due Date

Date

Disabled Text Box


Amount outstanding for a Period of:

Due to ceding companies (0-3 Months)

Decimal

Text Box

Enter the amount outstanding due to ceding companies for 0-3 Months


Decimal

Text Box



Decimal

Text Box


Due to ceding companies (Over 12 Months)

Decimal

Text Box

Enter the amount outstanding due to ceding companies for


Version 9.0 217


Over 12 Months

Due to ceding companies (Total)

Decimal

Disabled Text Box

Derived field by system, by adding all the amounts outstanding in this row.

Due to reinsurers (0-3 Months)

Decimal

Text Box

Enter the amount outstanding due to reinsurers for 0-3 Months


Decimal

Text Box



Decimal

Text Box


Due to reinsurers (Over 12 Months)

Decimal

Text Box

Enter the amount outstanding due to reinsurers for over 12 Months

Due to reinsurers (Total)

Decimal

Disabled Text Box

Derived field by system, by adding all the amounts outstanding in this row.

Due from ceding companies (0-3 Months)

Decimal Text Box

Enter the amount outstanding due from ceding companies for 0-3 Months


Decimal Text Box

Enter the amount outstanding due from ceding companies for 3-6 Months


Version 9.0 218



Decimal Text Box

Enter the amount outstanding due from ceding companies for 6-12 Months.

Due from ceding companies (Over 12 Months)

Decimal Text Box

Enter the amount outstanding due from ceding companies for Over 12 Months.

Due from ceding companies (Total)

Decimal Disabled Text Box

Derived field by system, by adding all the amounts outstanding in the row.

Due from Reinsurers (0-3Months)

Decimal

Text Box

Enter the amount outstanding due from Reinsurers for 0-3 Months.

Due from Reinsurers (3-6 Months)

Decimal

Text Box


Due from Reinsurers (6-12 Months)

Decimal

Text Box


Due from Reinsurers (Over 12 Months)

Decimal

Text Box

Enter the amount outstanding due from Reinsurers for Over 12 Months.

Due from Reinsurers (Total)

Decimal

Disabled Text Box

Derived field by system, by adding all the amounts outstanding in the row.


Version 9.0 219


Cash Flow Statement for Insurance Brokers:

The below table provides guidelines for Data Submission of Cash Flow Statement Returns (Annual Returns).


Year Integer

Disabled Text Box


Broker Varchar

Disabled Text Box


Submitted On Date

Disabled Text Box


Submission Due Date

Date

Disabled Text Box


CASH FLOW FROM OPERATING ACTIVITIES:

Brokerage Receipts Decimal

Text Box

Enter the Brokerage Receipts amount.

Reinsurance Receipts

Decimal

Text Box

Enter the Reinsurance Receipts amount.

Other Receipts/Payments

Decimal

Text Box

Enter Other Receipts/Payments amount.


Version 9.0 220


Realizations from Sundry Debitors

Decimal

Text Box

Enter the Realizations from Sundry Debitors amount.

Payment towards Expenses

Decimal

Text Box

Enter the Payment towards Expenses amount.

Payments of Tax Deducted at Source

Decimal

Text Box

Enter the Payments of Tax Deducted at Source amount.

Payments to Sundry Creditors

Decimal

Text Box

Enter the Payments to Sundry Creditors amount.

Payments Of Other Advances

Decimal

Text Box

Enter the Payments Of Other Advances amount.

Net Cash From Operating Activities

Decimal

Disabled Text Box

Derived field by system and auto populated by calculating net cash from operating activities.

CASH FLOW FROM INVESTING ACTIVITIES

Purchase Of Investments

Decimal

Text Box

Enter the Purchase Of Investments amount.

Sale Of Investments

Decimal

Text Box

Enter the Sale Of Investments amount.

Purchases Of Fixed Assets

Decimal

Text Box

Enter the Purchases Of Fixed Assets amount.

Sale Of Fixed Assets Decimal

Text Box

Enter the Sale Of Fixed Assets amount.


Version 9.0 221


Income Received On Investments

Decimal

Text Box

Enter the Income Received On Investments amount.

Expenses Relating To Investments

Decimal

Text Box

Enter Expenses Relating To Investments amount.

Net Cash From Investing Activities

Decimal

Disabled Text Box

Derived field by system and auto populated by calculating net cash from investing activities.

CASH FLOW FROM FINANCING ACTIVITIES

Proceeds from issue of Share Capital

Decimal

Text Box

Enter the Proceeds from issue of share Capital amount.

Proceeds from borrowings

Decimal

Text Box

Enter the proceeds from borrowings amount.

Repayment of borrowings

Decimal

Text Box

Enter the repayment of borrowings amount.

Interest/Dividends paid

Decimal

Text Box

Enter the Interest/Dividends paid amount.

Net Cash From Financing Activities

Decimal

Disabled Text Box

Derived field by system and auto populated by calculating net cash from financing activities.

Net Increase / (Decrease) In Cash And Cash Equivalents

Decimal

Disabled Text Box

Derived field by system and calculates the net increase or decrease in cash.


Version 9.0 222


Cash & Bank Balance (Beginning of Financial Year)

Cash In Hand Decimal

Text Box

Enter the Cash In Hand amount for Cash & Bank Balance (Beginning of Financial Year).

Balance In Current Accounts

Decimal

Text Box

Enter the Balance In Current Accounts amount for Cash & Bank Balance (Beginning of Financial Year).

Cash & Bank Balance (End of Financial Year)

Cash In Hand Decimal

Text Box

Enter the Cash In Hand amount for Cash & Bank Balance (end of Financial Year).

Balance In Current Accounts

Decimal

Text Box

Enter the Interest/Dividends paid amount for Cash & Bank Balance (end of Financial Year).

Particulars

Sr No. Numeric Text Box

Enter the serial number

Particulars Varchar Text Box

Enter the particulars

Value in INR Decimal Text Box

Enter the Value in INR

Number

Decimal Text Box

Enter the Number


Version 9.0 223

Form N- Security screening proceedings for reinsurance broking:

The below table provides guidelines for Data Submission of Form N Returns (Annual Returns).


Year Integer

Disabled Text Box


Broker Varchar

Disabled Text Box

Broker Name would be auto populated.

Submitted On Date

Disabled Text Box

Submitted on would be auto populated after form has been submitted.


Text box

Submission due date would be auto populated as the form is opened.

Please state the security screening procedures adopted in the brokers office and the person responsible to approve the securities to be used by the broker

Varchar

Text box

Enter the security screening procedures adopted in your office and the person responsible to approve the securities.

Whether the broker obtains and reviews the annual accounts of

Varchar

Combo Box

If you obtain and review the annual accounts of


Version 9.0 224


reinsurers used by it

reinsurers enter ‘Yes’ else enter ‘No’.

( If answered 'Yes' for previous column) Who within the organization is responsible for this function?

Varchar

Text box

Enter who within your organization is responsible for obtaining and reviewing the annual accounts of reinsurers.

Procedure followed by the broker to keep abreast of developments in the international markets:

Varchar

Text box

Enter Procedure followed by you to keep abreast of developments in the international markets

Financial Statement for each insurance broker- Profit and Loss Statement:

The below table provides guidelines for Data Submission of Financial Statement- Profit and Loss Returns (Annual Returns).



Version 9.0 225


Year Integer

Disabled Text Box


Broker Varchar

Disabled Text Box


Submitted On Date

Disabled Text Box


Submission Due Date

Date

Disabled Text Box


Income

Brokerage Decimal Text Box

Enter the Brokerage Income

Other Business Income *

Decimal Text Box

Enter the other Business Income

Particulars of income

VarChar Text Box

Enter the particulars of income


Decimal Text Box

Enter the amount received during the year

Basis of remuneration

VarChar Text Box

Enter the basis of remuneration

Explanatory note VarChar Text Box

Enter the explanatory note

Investment Income Decimal Text Box

Enter the investment Income

Other Miscellaneous Income *

Decimal Text Box

Enter the other Miscellaneous Income


Version 9.0 226


Particulars of income

VarChar Text Box

Enter the Particulars of income


Decimal Text Box

Enter the Amount received during the year

Explanatory note VarChar Text Box

Enter the Explanatory note

Total Decimal Disabled Textbox

Derived field by system, by adding all the amounts in this column.

Expenses

Staff Salaries and Expenses

Decimal Text Box

Enter the staff salaries and expenses

Directors Fees and Other Remuneration

Decimal Text Box

Enter the directors Fees and Other Remuneration

Payments for Business Procurement *

Decimal Text Box

Enter the payments for Business Procurement

Name and relationship of the payee

VarChar Text Box

Enter the name and relationship of the payee

Amount paid Decimal Text Box

Enter the Amount paid expenses

Basis of payment VarChar Text Box

Enter the Basis of payment expenses

Rents, Rates and Taxes

Decimal Text Box

Enter the Rents ,Rates and Taxes expenses


Version 9.0 227


Maintenance and Repairs

Decimal Text Box

Enter the Maintenance and Repairs expenses

Printing and Stationary

Decimal Text Box

Enter the Printing and Stationary expenses

Communication Expenses

Decimal Text Box

Enter the Communication Expenses

Legal and Professional Expenses

Decimal Text Box

Enter the Legal and Professional Expenses

Advertisement and Publicity

Decimal Text Box

Enter the Advertisement and Publicity expenses

Auditors' Fees and Expenses

Decimal Text Box

Enter the Auditors' Fees and Expenses

Interest and Bank Charges

Decimal Text Box

Enter the Interest and Bank Charges expenses

Depreciation Decimal Text Box

Enter the Depreciation expenses

Other Expenses

Decimal

Text Box

Enter the Other Expenses

Other Approved Securities

Decimal Text Box

Enter the Other Approved Securities expenses

Total(B) Decimal Disabled Textbox



Version 9.0 228


Profit Before Tax Decimal Disabled Textbox

Derived field by system, and will be populated if the income is greater than the expenses.

Loss Before Tax Decimal Disabled Textbox

Derived field by system, and will be populated if the expenses are greater than the income.

Provision for Taxation

Current Tax Decimal Text Box

Enter the Current Tax

Deferred Tax Decimal Text Box

Enter the Deferred Tax

Profit After Tax Decimal Disabled Textbox

Derived field by system, and will be populated if the amount before tax additions is greater than the amount after tax additions.

Loss After Tax Decimal Disabled Textbox

Derived field by system, and will be populated if the amount after tax additions is greater than the amount before tax additions.

Appropriations

Balance at the Beginning of the Year

Decimal Text Box

Enter the Balance at the Beginning of the Year


Version 9.0 229


Interim Dividends Paid During the Year

Decimal Text Box

Enter the Interim Dividends Paid During the Year

Proposed Final Dividend

Decimal Text Box

Enter the Proposed Final Dividend

Dividend Distribution on Tax

Decimal Text Box

Enter the Dividend Distribution on Tax

Transfer to Reserves/Other Accounts

Decimal

Text Box

Enter the Transfer to Reserves/Other Accounts

Profit Carried to Balance Sheet

Decimal Disabled Textbox

Derived field by system, and will be populated if there is an overall profit.

Loss Carried to Balance Sheet

Decimal Disabled Textbox

Derived field by system, and will be populated if there is an overall loss.

Particulars

Serial No. Numeric Text Box

Enter the value for the serial number.


Enter the particulars and details



Number

Decimal Text Box

Enter the Number


Version 9.0 230

Balance Sheet of Insurance Brokers:

The below table provides guidelines for Data Submission of Balance Sheet Returns (Annual Returns).


Year Integer

Disabled Text Box


Broker Varchar

Disabled Text Box


Submitted On Date

Disabled Text Box



Disabled Text Box


Sources of Fund

Authorized Decimal Text Box

Enter Authorized capital amount

Subscribed Decimal Text Box

Enter Subscribed capital amount

Called Up Decimal Text Box

Enter Called Up capital amount

(Less Calls Unpaid) Decimal

Text Box

Enter (Less Calls Unpaid) capital amount

(Add Shares Forfeited)

Decimal

Text Box

Enter (Add Shares Forfeited) capital amount

(Less Par Value of Shares Bought Back)

Decimal

Text Box

Enter (Less Par Value of Shares Bought Back)


Version 9.0 231


capital amount.

Less Preliminary Expenses

Decimal

Text Box

Enter Less Preliminary Expenses amount.

Total (F) Decimal

Disabled Text Box


Reserves and Surplus

Decimal Text Box

Enter Reserves and Surplus amount.

Sub Total

Decimal Disabled Text Box

Derived field by system, by adding all the amounts in this column

Borrowings Decimal Text Box Enter Borrowing amount

Name of borrower VarChar

Text Box Enter the name of borrower

Amount Borrowed Decimal

Text Box

Enter the amount Borrowed

Amount Outstanding as on 31st March

Decimal

Text Box

Enter the amount Outstanding as on 31st March

Current Liabilities and Provisions

Decimal

Text Box Enter Current Liabilities and Provisions amount.

Total (A) Decimal

Disabled Text Box


Application of Funds

Regulation 22 Deposit Decimal Text Box

Enter Regulation 22 Deposit amount

Investment

Government Securities

Decimal Text Box

Enter Government Securities (investment)


Version 9.0 232


amount

Other Approved Securities

Decimal Text Box

Enter Other Approved Securities (investment) amount

Approved Investment

Shares Decimal

Text Box

Enter Shares (approved investment) amount.

Debentures Decimal

Text Box

Enter Debentures (approved investment) amount.

Bank Deposits Decimal

Text Box

Enter Bank Deposits (approved investment) amount.

Others Decimal

Text Box

Enter Others (approved investment) amount.

Loans Decimal Text Box Enter Loans amount.

Name of institution/Individual

VarChar

Text Box

Enter Name of institution/Individual for Loan.

Purpose of loan VarChar

Text Box

Enter the purpose for loan.

Amount of loan Decimal

Text Box

Enter the Amount of loan.

Amount Outstanding as on 31st March

Decimal

Text Box

Enter Amount Outstanding as on 31st March value for loans.

To Shareholders, Directors, Officers

Decimal

Text Box

Enter Shareholders, Directors, Officers


Version 9.0 233


(approved investment) amount.

To Others-Secured Loan

Decimal

Text Box

Enter Others-Secured Loan (approved investment) amount.

To Others-Unsecured Decimal

Text Box

Enter Others-Unsecured (approved investment) amount.

Fixed Assets Decimal

Text Box

Enter Fixed Assets (approved investment) amount.

Current Assets Decimal

Text Box

Enter Current Assets (approved investment) amount.

Debit Balance in Profit and Loss A

Decimal

Text Box

Enter Debit Balance in Profit and Loss A (approved investment) amount.

Total (B) Decimal

Disabled Text Box


Contingent Liabilities Decimal

Text Box

Enter Contingent Liabilities amount.

Details of contingent liabilities

VarChar

Text Box

Enter the Details of contingent liabilities.

Major Remarks/Observation of Auditor Report requiring rectification of any deficiencies

VarChar

Text Box

Enter the remarks/ observation of Auditor Report requiring rectification of any deficiencies.

Particulars


Version 9.0 234


Serial No.

Numeric Text Box

The value entered here would be serial no.


Enter the particulars



Number

Decimal Text Box

Enter the Number

Form D- Audit Arrangements for an Insurance Broker:

The below table provides guidelines for Data Submission of Form D Returns (Annual Returns).


Year Integer

Disabled Text Box


Broker Varchar

Disabled Text Box


Submitted On Date

Disabled Text Box


Submission Due Date

Date

Disabled Text Box


Name of the Statutory Auditor

Varchar Textbox Enter the Name of the Statutory Auditor


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Address of the Statutory Auditor

Varchar Text box Enter the address of the Statutory Auditor

Name of partner responsible for audit of the broker

Varchar Textbox Enter the name of partner responsible for audit of the broker

Name of Internal Auditor (refer Regulation 27)

Varchar Text box Enter the name of Internal Auditor (refer Regulation 27)

Address of Internal Auditor

Varchar Text box Enter the address of Internal Auditor

Qualifications Varchar Textbox Enter the Qualifications

Experience

Varchar

Textbox

Enter the Experience

If an employee, to whom does the internal auditor report?

Varchar

Textbox

Enter the details for ‘If an employee, to whom does the internal auditor report?’

Particulars of changes, if any, during the reporting period

Varchar

Textbox

Enter the value for Particulars of changes, if any, during the reporting period.

Form J- Insurance Bank Accounts of Insurance Brokers:

The below table provides guidelines for Data Submission of Form J Returns (Annual Returns).



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Year Integer

Disabled Text Box


Broker Varchar

Disabled Text Box


Submitted On Date

Disabled Text Box


Submission Due Date

Date

Disabled Text Box


Name of Bank

Boolean

Combo Box

Select Name of Bank from the values available in the dropdown.

Address of Bank

Varchar

Text box

Enter the address of Bank

Account Type

Boolean

Combo Box

Select the account type from the dropdown as either Current or Savings.

Bank A/C No.

Varchar

Text box

Enter the Bank account number.

Purpose of Account

Varchar

Text box

Enter the purpose of account.

Whether Reg 23(2) ( C ) complied with

Boolean

Combo Box

Select ‘whether registered 23(2) (C) complied with’


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as either Yes or No.

Balance in account as at end of reporting period

Decimal

Textbox

Enter the balance in account as at the end of reporting period

Form T- Details of Group companies for an Insurance Broker:

The below table provides guidelines for Data Submission of Form T Returns (Annual Returns) .


Name of Concern Varchar Text box Enter the name of Concern.

Shareholders Unique ID (Indian : PAN No) (Foreign : Tax ID)

Varchar

Text box

Enter the Shareholders Unique ID.

Address

Varchar

Text box

Enter the address.

Type of activity handled

Varchar

Text box Enter the type of activity handled.


Varchar

Text box

Enter the nature of interest of Promoter/ Director of the group company


Varchar

Text box

Enter the nature of interest of the group company with the applicant


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company.

Details of Group companies for a broker

Name of Concern Varchar Text box Enter the name of Concern.

Shareholders Unique ID (Indian : PAN No) (Foreign : Tax ID)

Varchar

Text box

Enter the Shareholders Unique ID.

Address

Varchar

Text box

Enter the address.

Type of activity handled

Varchar

Text box Enter the type of activity handled.


Varchar

Text box

Enter the nature of interest of Promoter/ Director of the group company


Varchar

Text box

Enter the nature of interest of the group company with the applicant company.

Form H- Spread of Business during the year ending- (Regulation 20):

The below table provides guidelines for Data Submission of Form H Returns (Annual Returns).

Field Details Data Type Field Object

Values


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Values

Year Integer

Disabled Text box


Insurance Broker Integer

Disabled Text box


Submitted On Date

Disabled Text box



Disabled Text box


Name of Client

Varchar

Text Box

Enter the name of Client.

Premium On Direct Insurance Booked for the Client

Fire

Decimal

Text Box

Enter the Premium amount for fire.

Marine

Decimal

Text Box

Enter the premium amount for Marine.

Miscellaneous

Decimal

Text Box

Enter the premium amount for Miscellaneous.

Premium On Reinsurance Broking In Respect Of That Client's Business

Fire

Decimal

Text Box

Enter the Premium amount for fire.

Marine

Decimal

Text Box

Enter the premium amount for Marine.


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Values

Miscellaneous

Decimal

Text Box

Enter the premium amount for Miscellaneous.

Total Of All Clients

Decimal

Disabled Text box

Derived by system, by adding all the values in the respective columns.

Form K- Professional Indemnity Insurance in force as at (Year):

The below table provides guidelines for Data Submission of Form K Returns (Annual Returns).


Year Integer

Disabled Text box


Insurance Broker Integer

Disabled Text box


Submitted On Date

Disabled Text box


Submission Due Date

Date

Disabled Text box


Name of Insurer providing PI Cover

VarChar

Combo Box

Enter the Name of Insurer providing PI Cover.


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Policy No/Endorsement No.

VarChar

Text Box

Enter the Policy No/Endorsement No.

Period of Insurance: (From Date)

Date

Text box- calendar option

Enter the Period of Insurance: (From Date).

Period of Insurance: (To Date)

Date

Text box- calendar option

Enter the Period of Insurance: (To Date).

Sums Insured: Per Event (AOA)

Decimal

Text Box

Enter the Sums Insured: Per Event (AOA).

Sums Insured: In Aggregate for the Policy Period (AOY)

Decimal

Text Box

Enter the Sums Insured: In Aggregate for the Policy Period (AOY).

Basis of Indemnity (On claims made basis or on loss occurring basis)

Decimal

Text Box

Enter the Basis of Indemnity.

Deductible:

Decimal

Text Box

Enter the Deductible

Premium for the cover:

Decimal

Text Box

Enter the Premium for the cover.


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Whether requirements for the Regulation 24, sub-regulation (4) and (5) are complied with? (Yes/No)

VarChar

Combo Box

If Requirements are complied with then enter ‘Yes’ else enter ‘No’.

Please State The Relevant Percentages

Decimal

Text Box

Enter the relevant percentage.

Form Q- Financial data for Insurance Brokers:

The below table provides guidelines for Data Submission of Form Q Returns (Half Yearly Returns).


Values

Year Integer

Disabled Text box


Half Year

Integer

Disabled Text box

Half Year would be auto populated.


Disabled Text box


Submitted On Date

Disabled Text box



Disabled Text box


Income Data

Direct Insurance Decimal Text Box Enter the amount for


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Values

remuneration

Direct Insurance remuneration

Reinsurance remuneration

Decimal

Text Box

Enter the amount for Reinsurance remuneration

Advisory fees

Decimal

Text Box

Enter the amount for Advisory fees

Insurance consultancy Decimal

Text Box

Enter the amount for Insurance consultancy

Investment Income

Decimal

Text Box

Enter the amount for Investment Income

Others Decimal

Text Box

Enter the amount for Others.

Investment Data

Group Companies (Amount For Current year (As per selection))

Decimal

Text Box

Enter the amount for Group Companies (For Current year (As per selection))

Group Companies (Remarks from Statutory Auditor (if Any))

Varchar

Text Box

Enter the remarks from Statutory Auditor for Group Companies (For Current year)

Equity(Amount For Current year (As per selection))

Decimal

Text Box

Enter the Equity(Amount For Current year (As per selection))

Equity(Remarks from Statutory Auditor (if Any))

Varchar

Text Box

Enter the remarks for Equity from Statutory Auditor.

Debt(Amount For Current year (As per selection))

Decimal

Text Box

Enter the amount for Group Companies (For Current year (As per selection))

Debt(Remarks from Varchar Text Box Enter the remarks


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Values

Statutory Auditor (if Any))

from Statutory Auditor for Debt.

Loans/ Advances given directly or indirectly to group companies(Amount For Current year (As per selection))

Decimal

Text Box Enter the amount for Loans/ Advances given directly or indirectly to group companies (For Current year (As per selection)).

Loans/ Advances given directly or indirectly to group companies(Remarks from Statutory Auditor (if Any))

Varchar

Text Box Enter the remarks from Statutory Auditor for Loans/ Advances given directly or indirectly to group companies.

Others(Amount For Current year (As per selection))

Decimal

Text Box Enter the amount for others(For Current year (As per selection))

Others (Remarks from Statutory Auditor (if Any))

Varchar

Text Box

Enter the remarks from Statutory Auditor for Others

Total

Decimal

Disabled Text Box

Derived field by system, by adding all the amounts for current year in this column.

Broker User manual Pay Penalty

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Pay Penalty

IRDA may levy a penalty on you if you are found guilty of misconduct or there is delay in submission of your returns. In Pay Penalty, you need to pay the penalty amount imposed on you.

To pay the penalty amount:


2. Click Pay Penalty. The Pay Penalty screen is displayed containing the list of penalties that you need to pay.

Figure 148: Pay Penalty Screen

The fields in the Pay Penalty screen are explained in the following table.

Field Description

Penalty Id Displays the id of the penalty imposed.

Amount Displays the amount of the penalty imposed.

Penalty Details

Click the View Penalty Details link to view details of the penalty imposed.

3. Click the check box icon corresponding to the penalties that you want to pay.

Broker User Manual Pay Penalty

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Figure 149: Total Amount Displayed in the Pay Penalty Screen

4. The total amount that you have selected to pay is displayed in the Total Amount field.

5. Click Make Payment. The Make Payment screen is displayed.


6. Select the desired payment type and click Go to make payment through that type. The different payment types are explained below.

Payment through DD - Select this payment type if you want to make your payment through demand draft. You need to create the demand draft first and then enter its details in this payment type. The fields in this payment type are explained in the following table.

Figure 151: Demand Draft Details Screen

Field Description


Amount to be paid (Rs.) The amount payable is displayed by default.

Broker User Manual Pay Penalty

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Amount of Instrument (Rs.) Enter the amount of the demand draft.

Instrument Date Select the date when you drew the demand draft.

Payment through NEFT/RTGS - Select this payment type if you want to make your payment through NEFT/RTGS. For this payment type, you need to make payment to IRDA through NEFT/RTGS and then enter the payment details in this payment type. The fields in this payment type are explained in the following table.


Field Description

Acknowledgement No. Enter the acknowledgement number received after making the online payment.

Amount to be paid (Rs.) The amount payable is displayed by default.






Amount of Payment (Rs.) Enter the amount of the payment made.

7. Enter the necessary details for the selected payment type and click Submit. An Acknowledgement dialog box is displayed containing the Unique Reference Number (URN).

8. Click OK.

Broker User Manual Error Handling

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Error Handling

The below table provides a list of Error messages displayed during invalid/wrong submission of details in New License, Duplicate License, Renewal license, Changes in Licensing Category, Returns applications.

Application Scenario Message Type

New License/Change in License Category

Data not entered in Input fields

Field is Mandatory Input field

Pin code Please enter proper pin code value

Input field

Date Selection Cannot be a date from future

Date/Calendar field

Date Selection Date cannot be Past or Present Date

Date/Calendar field

Add director details

Enter at least two director details

Table data

File not uploaded

Upload file for xyz File Upload

Add shareholder details with foreign holding exceeding 26%

Total foreign holding paid up capital cannot exceed 26%

Table Data

Paid up capital for Organization's Capital structure not matching business rule(minimum capital required for Broker category)

Paid up capital cannot be less than xyz (amount)

Input field

If following condition is not satisfied "Authorized capital>Issue capital>Paid up capital" for

Capital amount <xyz> cannot be less than or equal to <abc> for given year

Input field


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Capital structure

Fixed Deposit Details If FD amount entered is not proper

FD amount should be minimum 20% of paid up capital

Input field

Uploading files file should be of type .PDF or .DOC

File upload

Uploading files File size exceeded File upload

Date selection From Date cannot be after To Date

Date/Calendar field

Date selection Date of processing cannot be future date

Date/Calendar field

Renewal license

Data not entered in input fields

Field is mandatory Input field

Paid up capital for Organization's Capital structure not matching business rule(minimum capital required for Broker category)

Paid up capital cannot be less than xyz (amount)

Input field

If following condition is not satisfied "Authorized capital>Issue capital>Paid up capital" for Capital structure

If following condition is not satisfied "Authorized capital>Issue capital>Paid up capital" for Capital structure

Input field

Uploading document

file size is greater than 3 MB , please upload a file less than 3 MB

File upload

File not uploaded

Upload file for xyz File upload


Field is mandatory Input field


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Uploading files file should be of type .PDF or .DOC

File Upload

Duplicate License



Uploading files file should be of type .JPEG or .GIF

File Uplaod

Uploading documents

file size is greater than 3 MB , please upload a file less than 3 MB

File Upload

Data not selected from the dropdown

Field is Mandatory Drop Down By Key

Input fields left blank


User Selects Future date

Date should not be greater than the present date

Date/Calendar

User is not able to enter more characters in the input field

No error Message will be displayed

Input field

User tries to upload without specifying the file path

Please browse and select a file to upload

File Upload

User tries to upload without specifying the attachment details

Please provide Attachment Details

Input field

Mandatory fields not entered

Field is Mandatory.

Input field

Data other than numeric values entered for numeric input fields

Enter a numeric value instead of ""

Input field

Clicking on View/Print

No Submitted Returns Found

NA


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Returns

Submitted forms, Edit Submitted forms when no

submitted returns exist for that period

For This Period

Trying to fill returns of a future period before filling in the current period

You cannot proceed with this until pending returns are submitted

NA

Trying to submit returns for a period when all the forms are not filled

Some of the forms belonging to this bunch are not yet filled

NA

Click on Upload form button->do not select a document->click on upload

Please check the data entered.

File Upload

Broker User manual Frequently Asked Questions

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Frequently Asked Questions

1) What happens if my Master ID (Corporate Broker) is deleted?

If your account is deleted, then you have to re-register yourself in the portal.

2) How to login into portal, if I Forget My Password? Use Forgot Password/ Change Password link on Login Page to retrieve your password. (Forgot Password/Change Password) An Email will be sent to you on successful updations, use the information provided in mail to login again.

3) How to login into portal, after 3 failed attempts?

On 3 failed attempts of login, the account gets locked. Contact IRDA to unlock the Account.

4) Can I create any number of Sub IDs (Directors and Employees) for my

organization? No, you can create maximum of 3 Sub IDs: 2 Directors, 1 Employee Sub ID. To Create New Sub IDs, one of these IDs must be deleted. (Description of Menu Tabs )

5) What is difference between Broker Director and employee roles? Broker Director and employee are the Sub IDs created by Corporate Broker.

A Broker Director can fill the License Applications & Returns (Quarterly, Annual, Half yearly). He can attach Digital Signature to the Authorized Applications. He can submit the Applications & Returns as well.

Employee can only enter/ Fill the License Application forms & Returns. He can submit the applications & Returns only after Digital Signature is signed by Authorized Directors.

6) How do I update Organization address & Name? You can update various details of Organization addresses, Name, Miscellaneous Details using Changes during Licensing period. (Changes during Licensing Period )

Broker User manual Frequently Asked Questions

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7) What is the difference between View submitted forms and View application status? View Submitted forms button is used only to view the already submitted Returns & applications (New, Duplicate, and Renewal).

View Application Status shows various Application statuses for the applications. (View Application Status)

8) What is the difference between View Application Status and View License Details? View Application Status is used to view Approved, Pending and Closed Applications. (View Application Status)

View License Details displays various details of License No., Category, and Status. (View License Details)

9) How can I Submit additional Documents, when more Clarifications are asked by IRDA? You can submit additional information and documents through “Pending for Clarification”. (Pending for Clarification)

10) What options are available to make Payment?

You can Make Payment by two means. They are: Demand Draft, NEFT/RTGS Details options. You can use Credit card, Debit Card for making these payments. (Pay Annual Fees)

11) How would Brokers receive acknowledgement regarding their applications and returns? An Email Notification will be sent to you on Submission of Applications and Returns.

You will also receive notifications and Emails on approval, issuance of Licenses, Pending for clarification or on Delay in submission of any application.

12) How can I track my Payment details for Penalty? Use Pay Penalty to make payment for Penalty. (Pay Penalty )

Broker User manual Glossary

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Glossary

A

Audit An official inspection of an individual's or organization's accounts, typically by an independent body Auditor A person who conducts an audit Account locked A scenario in which a user has made three unsuccessful attempts to login to the portal

B

Broker One that acts as an agent for others, as in negotiating contracts, purchases, or sales in return for a fee or commission. Indemnity Insurance An insurance policy that aims to protect business owners and employees when they are found to be at fault for a specific event such as misjudgment BAP Acronym is Business Analytics Project Brokerage Income A fee or commission charged by a broker. Balance Sheet A financial statement that summarizes a company's assets, liabilities and shareholders' equity at a specific point in time

C

Capital Capital refers to sums of money or assets put to productive use.

Broker User Manual Glossary

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Claims Legal demand or assertion by a claimant for compensation, payment, or reimbursement for a loss under a contract, or an injury due to negligence

D

Direct Insurance Non-life (general) insurance in which an insurer is directly responsible to the insured, without involving a reinsurer

Dividend A sum of money paid regularly (typically quarterly) by a company to its shareholders out of its profits (or reserves). Debentures An unsecured loan certificate issued by a company, backed by general credit rather than by specified assets

F

FDI Foreign direct investment; investment by a company in a country other than that in which the company is based

I

Insurance Institute of India Insurance Institute of India conducts training and exams for insurance professionals in India. Its objective is to promote insurance education and training in the country. It ensures quality in the profession of surveyors by regular up gradation of professional excellence through training programs and seminars. IRDA Insurance Regulatory and Development Authority of India is the apex body that regulates the insurance industry in India.


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L

Life Insurance Insurance that pays out a sum of money either on the death of the insured person or after a set period.

M

Master ID Master ID is the Registered Corporate Broker ID, which can be used to create 3 Sub IDs further. They are 2 Director ID, 1 Employee ID.

O

Outstanding Amount Outstanding refers to the amount owed.

P

Premium An amount to be paid for an insurance policy Policies A contract on Insurance Pending clarification Applicants need to provide clarifications and attach additional documents as required by IRDA during application processing.

R

Reinsurance Reinsurance is insurance that is purchased by an insurance company (the "ceding company" or "cedent" under the arrangement) from one or more other insurance companies (the "reinsurer") as a means of risk management Reminder Email A set of E mails sent by IRDA to the users on their registered Email ID when any action is required from them


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Remuneration Money paid for work or a service. Retrieve credentials A process through which the user can retrieve their login credentials by entering mandatory information.

S

Shareholder An owner of shares in a company Share Capital. Share capital or capital stock (US English)[1] refers to the portion of a company's equity that has been obtained (or will be obtained) by trading stock to a shareholder for cash or an equivalent item of capital value SS LC SS LC (Secondary School Leaving Certificate) is the certificate received after completion of secondary schooling (10th Grade). Sub ID Director and Employee IDs created by the Corporate Broker (Master ID) are called as Sub IDs.

U

URN / Unique Reference Number The unique reference number that is generated when users successfully submit any application to IRDA

http://en.wikipedia.org/wiki/Share_capital#cite_note-1

Broker User Manual Index

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Index

A

Annual Returns ................................ 145 Applicant Details ................................ 37

B

Business Information .......................... 44

C

Changes during Licensing Period ...... 84 Create Sub ID .................................... 26

D

Declaration ......................................... 55 Delete Sub ID ..................................... 30 Duplicate License ............................... 79

F

FAQs ................................................ 173 Financial Information .................... 47, 67 For Approval ..................................... 105 For Information ................................... 87

G

Glossary ........................... 175, 179, 183

H

Half Yearly ........................................ 166

L

Login Process ...................................... 8

N

New License ....................................... 34

O

Organization Struture ......................... 39 Other Information ............................... 51

P

Pending for Clarification ................... 126 Print View ........................................... 59

Q

Quarterly Returns ............................. 132

R

Register ................................................ 4 Registration .......................................... 4 Renewal License ................................ 64 Retrieve Password ............................. 12 Retrieve User ID ............................. 8, 11 Returns ............................................. 129

U

Undertaking ........................................ 56 Update Sub ID .................................... 28 Update User Profile ............................ 20 Upload Documents ............................. 53 User Profile ........................................ 14

V

View Application Status .................... 124 View License Details ........................ 123